Transactions - DRV-F Provision

DRV for Derivatives and Futures Anatomy™ This is an informal, non-binding and, by the looks, not massively idiomatic translation of the Deutscher Rahmenvertrag für Finanztermingeschäfte. So treat it, and the JC's summary of and uninformed musings about it, with even more caution than normal. →Go uptown In a Nutshell™ Clause 2: Template:Nutshell DRVF 2 view template DRV for Derivatives and Futures full text of Clause 2: 2 Transactions 2(1) As soon as the parties have agreed to a Transaction, the Bank shall confirm in writing the terms thereof to the Counterparty either, by telex, telegraph, facsimile or in any other similar form. 2(2) Each party shall be entitled to request a signed confirmation of the Transaction, provided, however, that such confirmation shall not be a condition precedent to the legal validity of the Transaction. 2(3) The terms of an individual Transaction shall prevail over the provisions of this Master Agreement. view template DRV-F · (wikitext) · (nutshell wikitext) Navigation: Table of contents | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 (being the Elections) Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Note that, like the ISDA, the confirmation is not the binding version of the trade or the condition precedent to the trade being binding. The primary source of evidence for the deal is the actual trade, for the same reasons.

Note also the charming references to the telex and even the telegraph (“whatever the hell that is”, think millennials who may be reading). For the Generation Zedders: But Wikipedia tells us that Deutsche Post still offers telegram service, delivering telegrams the next day as ordinary mail, though it discontinued service to foreign countries in 2000.”

Here is a nice picture of a telegraph machine.