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The prevailing market standard {{tag|English law}} | {{a|gmsla|{{subtable|{{2010 GMSLA TOC}}}}}}The prevailing market standard {{tag|English law}} [[stock lending]] master agreement. Compare with the new York law {{msla}} and, latterly the English law {{pgmsla}}. | ||
You can access the clause-by-clause anatomy from the table of contents over ==> there. | |||
How do you say it? [[Jimzler|However you like, basically]]. | |||
The {{gmsla}} is an agreement once drafted by a [[magic circle law firm]] but whose carriage nowadays is almost exclusively handled by [[inhouse lawyer]]s and [[negotiator]]s, to the point where seeking external advice on what a given provision means is a bad idea, because [[private practice lawyer]]s will have far less of a clue — having likely never looked at a {{gmsla}} — than will their inhouse clients who ask the question. They will be baffled by the terminology — is it a loan or isn’t it? — the fact that failing to redeliver securities or collateral is ''de rigueur'' and does not usually sifnify the [[end of the world as we know it]], that there should really not be damages for consequential losses and countless other trifling, [[tedious]] things. | |||
This won’t stop the inhouse clients asking, of course, and indeed they are known to have the bright idea of outsourcing GMSLA negotiations to outside law firms. This is a disaster. Don’t ''do'' it, folks. | |||
{{sa}} | {{sa}} | ||
*[[ | *[[Stock lending]] | ||
*[[ | *[[Securities financing]] | ||
* | *[[Master agreement]] | ||