82,891
edits
ISDA Comparison: Difference between revisions
m
Text replace - "{{isdaanatomy}}" to "{{anat|isda}}"
Amwelladmin (talk | contribs) (Created page with "==={{isdaprov|Close-Out Amount}} === ====Two way payments only==== The {{1992ma}} offered parties the choice between one-way payment (the “{{isdaprov|First Method}}”) and ...") |
Amwelladmin (talk | contribs) m (Text replace - "{{isdaanatomy}}" to "{{anat|isda}}") |
||
| Line 37: | Line 37: | ||
*'''{{isdaprov|Set-Off}}''': The absence of a {{isdaprov|Set-Off}} provision is seen by many as the biggest weakness of the {{1992ma}}. Although the User’s Guide to the {{1992ma}} included an optional {{isdaprov|Set-Off}} provision, the optional provision was not effective unless the parties added the provision to the Schedule to the {{1992ma}}. The {{2002ma}} remedies this concern by including a {{isdaprov|Set-Off}} provision that is similar to the provision included in the User’s Guide. This provision permits the Non- {{isdaprov|Defaulting Party}} to {{isdaprov|Set-Off}} any amounts owing between the parties against any early termination amount. While cross-product {{isdaprov|Set-Off}} is permitted, cross-affiliate {{isdaprov|Set-Off}} is not incorporated into this provision. The User’s Guide also suggested adding a representation to satisfy the requirement that mutuality must exist between the parties for a {{isdaprov|Set-Off}} to be effected. In response to this concern, the {{2002ma}} includes an additional representation in Section 3(g) that both parties are principals in respect of all {{isdaprov|Transaction}}s. | *'''{{isdaprov|Set-Off}}''': The absence of a {{isdaprov|Set-Off}} provision is seen by many as the biggest weakness of the {{1992ma}}. Although the User’s Guide to the {{1992ma}} included an optional {{isdaprov|Set-Off}} provision, the optional provision was not effective unless the parties added the provision to the Schedule to the {{1992ma}}. The {{2002ma}} remedies this concern by including a {{isdaprov|Set-Off}} provision that is similar to the provision included in the User’s Guide. This provision permits the Non- {{isdaprov|Defaulting Party}} to {{isdaprov|Set-Off}} any amounts owing between the parties against any early termination amount. While cross-product {{isdaprov|Set-Off}} is permitted, cross-affiliate {{isdaprov|Set-Off}} is not incorporated into this provision. The User’s Guide also suggested adding a representation to satisfy the requirement that mutuality must exist between the parties for a {{isdaprov|Set-Off}} to be effected. In response to this concern, the {{2002ma}} includes an additional representation in Section 3(g) that both parties are principals in respect of all {{isdaprov|Transaction}}s. | ||
{{ | {{anat|isda}} | ||