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Close-out Amount - ISDA Provision: Difference between revisions
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Close-out amount as a concept was introduced in the {{2002ma}} and doesn't exist under the {{1992ma}}. Instead, in the good old days, terminated transactions were valued according to {{isdaprov|Market Quotation}} or {{isdaprov|Loss}} and those utterly unintuitive [[First Method - ISDA Provision|first]] and [[Second Method - ISDA Provision|second]] methods. | Close-out amount as a concept was introduced in the {{2002ma}} and doesn't exist under the {{1992ma}}. Instead, in the good old days, terminated transactions were valued according to {{isdaprov|Market Quotation}} or {{isdaprov|Loss}} and those utterly unintuitive [[First Method - ISDA Provision|first]] and [[Second Method - ISDA Provision|second]] methods. | ||
Note prominent requirement to achieve a [[commercially reasonable]] result. On what that means see {{casenote|Barclays| | Note prominent requirement to achieve a [[commercially reasonable]] result. On what that means see {{casenote|Barclays|Unicredit}}. | ||
There are some local variations which are worth bearing in mind: | There are some local variations which are worth bearing in mind: | ||
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{{sa}} | {{sa}} | ||
*{{casenote|Barclays| | *{{casenote|Barclays|Unicredit}} on what amounts to acting in a [[commercially reasonable manner]] | ||