Delivery and Effectiveness of Communication - ISDA Give-Up provision: Difference between revisions

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{{prov|{{igu}}|5(a)}} '''{{prov|{{igu}}|Delivery and Effectiveness of Communication}}'''.  All notices, requests and other communications in respect of the operation of this {{prov|{{igu}}|Agreement}} other than {{prov|{{igu}}|Trade Notice}}s and termination notices (a “{{prov|{{igu}}|Communication}}”) shall be delivered by: (i) certified or registered mail (airmail, if overseas) or the equivalent (return receipt requested) or courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date it is delivered or its delivery is attempted; (ii) facsimile transmission and deemed effective on the date it is received by a responsible employee of the recipient in legible form (it being agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender’s facsimile machine); or (iii) electronic messaging system or e-mail and deemed effective on the date it is received.  A Communication shall be given to the address or number or in accordance with the electronic messaging system or e-mail details specified in Part 6 of the Schedule.  
{{prov|{{igu}}|5(a)}} '''{{prov|{{igu}}|Delivery and Effectiveness of Communication}}'''.  All notices, requests and other communications in respect of the operation of this {{prov|{{igu}}|Agreement}} other than {{prov|{{igu}}|Trade Notice}}s and {{prov|{{igu}}|termination notice}}s (a “{{prov|{{igu}}|Communication}}”) shall be delivered by:
Each party may rely on any Communication relating to this Agreement which it reasonably believes to have come from the other party or from a person authorized to act on behalf of the other party.
:(i) certified or registered mail (airmail, if overseas) or the equivalent (return receipt requested) or courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date it is delivered or its delivery is attempted;  
:(ii) facsimile transmission and deemed effective on the date it is received by a responsible employee of the recipient in legible form (it being agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender’s facsimile machine); or  
:(iii) [[electronic messaging system]] or [[e-mail]] and deemed effective on the date it is received.  <br />
A {{prov|{{igu}}|Communication}} shall be given to the address or number or in accordance with the [[electronic messaging system]] or [[email|e-mail]] details specified in Part 6 of the {{prov|{{igu}}|Schedule}}. <br />
Each party may rely on any {{prov|{{igu}}|Communication}} relating to this {{prov|{{igu}}|Agreement}} which it reasonably believes to have come from the other party or from a person authorized to act on behalf of the other party.
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{{nuts|{{igu}}|5(a)}}
{{nuts|{{igu}}|5(a)}}

Revision as of 17:31, 21 October 2016

5(a) Delivery and Effectiveness of Communication. All notices, requests and other communications in respect of the operation of this Agreement other than Trade Notices and termination notices (a “Communication”) shall be delivered by:

(i) certified or registered mail (airmail, if overseas) or the equivalent (return receipt requested) or courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date it is delivered or its delivery is attempted;
(ii) facsimile transmission and deemed effective on the date it is received by a responsible employee of the recipient in legible form (it being agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender’s facsimile machine); or
(iii) electronic messaging system or e-mail and deemed effective on the date it is received.

A Communication shall be given to the address or number or in accordance with the electronic messaging system or e-mail details specified in Part 6 of the Schedule.
Each party may rely on any Communication relating to this Agreement which it reasonably believes to have come from the other party or from a person authorized to act on behalf of the other party.


5(a) in a Nutshell™ (ISDA Give-Up edition)

5(a) Delivery and Effectiveness of Communication. All communications except Trade Notices and termination notices can[1] be delivered by:

(i) mail (return receipt requested), courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date delivered or delivery is attempted;
(ii) fax [yes! fax!] and deemed effective on the date legibly received by an employee of the recipient (ie the sender’s transmission report won’t count)
(iii) electronic messaging system or email[2] and deemed effective on the date received.

A notice details are those specified in Part 6 of the Schedule. The parties may reasonably rely on communications they believe are genuine.

view template

  1. ↑ Or must --- see Greenclose
  2. ↑ Don’t get me started on what the difference between these is but if you’re fiendishly interested go see Greenclose — it will surprise you.
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