2014 ISDA Credit Derivatives Definitions: Difference between revisions

The 2014 ISDA Credit Derivatives Definitions (the “'''{{cddprov|Definitions}}'''”) are intended for use in confirmations of individual credit derivative transactions (“'''{{cddprov|Confirmations}}'''”) governed by agreements such as the 1992 ISDA Master Agreement or the ISDA 2002 Master Agreement published by the International Swaps and Derivatives Association, Inc. (“'''{{cddprov|ISDA}}'''”). Copies of the ISDA Master Agreements are available from the executive offices of ISDA or from the ISDA website (www.isda.org). A sample form of Confirmation for use with the Definitions is referenced as Exhibit A to the Definitions and will be made available on the ISDA website.<br>

The Definitions are an update of the 2003 ISDA Credit Derivatives Definitions as supplemented by the 2009 ISDA Credit Derivatives Determinations Committees, Auction Settlement and Restructuring Supplement to the 2003 ISDA Credit Derivatives Definitions, published by ISDA on July 14, 2009. The Definitions provide the basic framework for the documentation of certain credit derivative transactions. For ease of use, certain sections of the Definitions provide fallback provisions that will apply to a transaction if the parties do not specify otherwise in the Confirmation.<br>