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{{pe}}A boon and a bane. On one hand they can cut through needless word-proliferation: “'''[[ERISA]]'''” means The [[Employee Retirement Income Security Act of 1974]] (Pub.L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) as amended, restated or superseded from time to time.” On the other, they can complicate a document by obliging the reader to flip back and forth to find what the definitions mean, especially where the definitions are embedded in the body of the agreement and not in a definitions section. And let’s face it: if you work in | {{pe}}A boon and a bane. On one hand they can cut through needless word-proliferation: | ||
{{quote|“'''[[ERISA]]'''” means The [[Employee Retirement Income Security Act of 1974]] (Pub.L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) as amended, restated or superseded from time to time.”}} | |||
On the other, they can complicate a document by obliging the reader to flip back and forth to find what the definitions mean, especially where the definitions are embedded in the body of the agreement and not in a definitions section. And let’s face it: if you work in international finance and you don’t already know what “[[ERISA]]” means, you really need to [[get your coat]]. | |||
Now dear old {{tag|ISDA}} ''loves'' definitions, and you will be obliged to consult one or several definitions booklets, often with conflicting definitions, as well as the definitions in {{isdama}}, the {{isdaprov|Schedule}} and the {{isdaprov|Confirmation}} to work out what a capitalised expression might mean. | Now dear old {{tag|ISDA}} ''loves'' definitions, and you will be obliged to consult one or several definitions booklets, often with conflicting definitions, as well as the definitions in {{isdama}}, the {{isdaprov|Schedule}} and the {{isdaprov|Confirmation}} to work out what a capitalised expression might mean. | ||