Liability (for withholding) - ISDA Provision: Difference between revisions

This seems a stretch (though probably one they cribbed from [[2002 ISDA User Guide]]<ref>the [[2002 ISDA User Guide]] says “... no [[gross-up]] is required if the payee has made a {{isdaprov|Payee Tax Representation}} that was false when made or later becomes false (unless it becomes false as a result of a {{isdaprov|Change in Tax Law}} or similar legal development”</ref>) — the usually fulsome<ref>Did I say fulsome? Tiresome.</ref> prose of the {{isdama}} neglects in this case to say anything about {{isdaprov|Payee Tax Representations}}, right or wrong, much less the {{isdaprov|Payer}}’s legitimate reliance on them or {{isdaprov|Change in Tax Law}}.  

But on the other hand, it is hard to think of a better explanation than the one nicked from the [[2002 ISDA User Guide]]. So, go [[FT book about derivatives|Paul C. Harding]]!!!