Change of Account - 1992 ISDA Provision

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1992 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

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Section 2(b) in a Nutshell

Use at your own risk, campers!
2(b) Change of Account. Either party may change its standard settlement instructions by five Local Business Days’ notice before any sheduled settlement date but the other party may object, within reason, to the change.

Full text of Section 2(b)

2(b) Change of Account. Either party may change its account for receiving a payment or delivery by giving notice to the other party at least five Local Business Days prior to the scheduled date for the payment or delivery to which such change applies unless such other party gives timely notice of a reasonable objection to such change.

Related agreements and comparisons

Related Agreements
Click here for the text of Section 2(b) in the 2002 ISDA
Click to compare this section in the 1992 ISDA and 2002 ISDA.

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Content and comparisons

But for the new definition of Scheduled Settlement Date in the 2002 ISDA, the 1992 ISDA text is formally the same.



ISDA’s crack drafting squad™ phoning it in, we are obliged to say, and not minded to make any better a job of it when given the opportunity to in 2002.


See also