Appendix

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What is the difference between a schedule, an appendix, and an annex? In practice, not much — any formal distinction is honoured in the breach — but if we can say there are three ways an appendage to a written contract can roll:

1. Elections: It can operate to modify the form of agreement, as in a document of elections and variables and amendments, especially where the agreement proper is standardised or inviolate. Without this kind of appendage, the agreement is not complete. The best example of this is the ISDA Schedule.
2. Details: It can provide more technical detail or specificity to the general terms of a master agreement, a bit like regulations promulgated under a statute
3. Cross-reference: It can reference a distinct but relevant document or contract.

Timing-wise, an attachment can pre-date, post-date or be contemporaneous with the main agreement. Typically an elections document will need to be contemporaneous; a details document can be contemporaneous or post-dated, and a cross-reference will usually pre-date the agreement (in that it must first exist if it is to be attached).

See also

• Qualities of a good ISDA