2002 ISDA Master Agreement
A Jolly Contrarian owner’s manual™
2(b) in a Nutshell™
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2(b) in all its glory
|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 Settlement 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.
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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.
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