FATCA Withholding Tax - ISDA Provision

From The Jolly Contrarian
Revision as of 11:11, 18 January 2020 by Amwelladmin (talk | contribs)
Jump to navigation Jump to search
ISDA Anatomy™
incorporating our exclusive ISDA in a Nutshell™


In a Nutshell Section FATCA Amendment:

Template:Nutshell 2002 ISDA FATCA Amendment view template

2002 ISDA full text of Section FATCA Amendment:

FATCA Withholding Tax:
The following is added at the end of Section 2(d) as new section 2(d)(iv):

2(d)(iv) Foreign Account Tax Compliance Act. The words “any tax from any payment” in any Payer Tax Representation and the definition of “Indemnifiable Tax” each excludes any tax imposed under Sections 1471 and 1472 of the Internal Revenue Code of 1986, as amended, (or the United States Treasury Regulations or other guidance issued thereunder) (“FATCA Withholding Tax”).

view template

Click here for the text of Section FATCA Amendment in the 1992 ISDA


Index: Click to expand:Navigation
The Varieties of ISDA Experience
Subject 2002 (wikitext) 1992 (wikitext) 1987 (wikitext)
Preamble Pre Pre Pre
Interpretation 1 1 1
Obligns/Payment 2 2 2
Representations 3 3 3
Agreements 4 4 4
EODs & Term Events 5

Events of Default
FTPDBreachCSDMisrepDUSTCross DefaultBankruptcyMWA
Termination Events
IllegalityTax EventTEUMCEUMATE

5

Events of Default
FTPDBreachCSDMisrepDUSTCross DefaultBankruptcyMWA
Termination Events
IllegalityTax EventTEUMCEUMATE

5

Events of Default
FTPDBreachCSDMisrepDUSTCross DefaultBankruptcyMWA
Termination Events
IllegalityFMTax EventTEUMCEUMATE

Early Termination 6

Early Termination
ET right on EODET right on TEEffect of DesignationCalculations

6

Early Termination
ET right on EODET right on TEEffect of DesignationCalculationsSet-off

6

Early Termination
ET right on EODET right on TEEffect of DesignationCalculationsSet-off

Transfer 7 7 7
Contractual Currency 8 8 8
Miscellaneous 9 9 9
Offices; Multibranch Parties 10 10 10
Expenses 11 11 11
Notices 12 12 12
Governing Law 13 13 13
Definitions 14 14 14
Schedule Schedule Schedule Schedule
Termination Provisions Part 1 Part 1 Part 1
Tax Representations Part 2 Part 2 Part 2
Documents for Delivery Part 3 Part 3 Part 3
Miscellaneous Part 4 Part 4 Part 4
Other Provisions Part 5 Part 5 Part 5

Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you.
Sign up for our newsletter.


You will see the attached added as a result of FATCA, so that a withholding imposed as a result of FATCA is excluded from the definition of Indemnifiable Tax — a definition which is already a quintuple negative, so this truly propels it into the stratosphere of convoluted drafting.