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Entire Agreement - ISDA Provision: Difference between revisions
Entire Agreement - ISDA Provision (view source)
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Smart-arse point: A [[warranty]] is a contractual assurance, made as part of a concluded contract, and cannot, logically, be relied on by the other party when entering into the contract. An assurance on which one relies when deciding to enter into a {{t|contract}} is a [[representation]]. | Smart-arse point: A [[warranty]] is a contractual assurance, made as part of a concluded contract, and cannot, logically, be relied on by the other party when entering into the contract. An assurance on which one relies when deciding to enter into a {{t|contract}} is a [[representation]]. | ||
==={{isdaprov|Confirmation}}s=== | |||
The [[entire agreement]] clause is legal boilerplate to nix any unwanted application of the [[parol evidence]] rule. Which might be a problem because the time-honoured understanding between all right-thinking derivatives trading folk is that the oral agreement, and not the subsequent confirmation, is the binding legal agreement. Hasten to Section {{isdaprov|9(e)(ii)}} — the {{isdaprov|Confirmation}} is only ''evidence'' of the binding agreement. Could that be it? | |||
{{seealso}} | {{seealso}} | ||