Template:M comp disc EFET Allowance Annex 7.1

Functionally, the definitions of Force Majeure in the EFET and IETA versions, and Settlement Disruption Event in the ISDA Emissions Annex are the same.

Here is a comparison between IETA and EFET, and here is a comparison between EFET and ISDA.

The differences are to account for the architecture and nomenclature of the different master agreements, though the IETA has a conflict clause favouring Suspension Event over Force Majeure/Settlement Disruption Event, which the EFET does not.

The equivalent under the ISDA EU Emissions Annex is the Settlement Disruption Event — so called because there is already a Force Majeure under the ISDA Master Agreement so the ’squad had to call their version something else.

Here, for good order, is a comparison between Force Majeure under the EFET Allowances Annex and Settlement Disruption Event under the ISDA EU Emissions Annex.