In a Nutshell™ Section Assessment and Understanding:
- (2) Assessment and Understanding. It can assess the merits and understand (with professional advice if needed), and understands and accepts the terms and risks of the Transaction and can and does assume them.
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2002 ISDA full text of Section Assessment and Understanding:
- (2) Assessment and Understanding. It is capable of assessing the merits of and understanding (on its own behalf or through independent professional advice), and understands and accepts, the terms, conditions and risks of that Transaction. It is also capable of assuming, and assumes, the risks of that Transaction.
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Click here for the text of Section Assessment and Understanding in the 1992 ISDA
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