Template:Isda 1(b) summ

Section {{ {{{1}}}|1(b)}}

It wouldn’t be ISDA if there weren’t a hierarchy clause; all this really establishes is the obvious: the pre-printed ISDA Master Agreement itself sits at the bottom and is modified between the counterparties by its Schedule; once negotiated and stuck into the netting database, the Schedule basically sits there unregarded and is modified as needs be for each Transaction under the {{ {{{1}}}|Confirmation}}. In point of fact the {{ {{{1}}}|Confirmation}}s don’t tend to modify anything in the Master and {{ {{{1}}}|Schedule}} so much as build on them, but if there is a consistency — and with a document as pedantic and overwrought as the ISDA you never know — then the most specific, recently edited document will be the one that prevails.