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{{anat|plainenglish}} | {{anat|plainenglish}} | ||
==General Principles== | ==General Principles== | ||
====Every legal protection has a cost==== | |||
*In terms of the time, delay and aggravation of getting it into the document. | |||
*In terms of the complexity of your documentation with that client. | |||
*In terms of the variability of your documentation across your portfolio. | |||
====Escalation has a cost==== | |||
*Many times will you hear a saintly [[credit officer]] insist on starting out with a term the credit officer doesn’t really need because [[there’s no harm in asking]]. But there ''is'' a harm in asking: the time, effort, ennui, delay and client aggravation in going through the [[escalation]] process. Don't under-estimate these. It might be hard to quantify it, but there is a dollar value in every lost moment in which you could be doing something more productive, your negotiation counterpart could, and your traders definitely could - namely trading with the counterparty rather than fielding calls from them about where their goddamn isda is, and then hassling you about it. | |||
====The fewer words the better.==== | ====The fewer words the better.==== | ||
====Organise your writing.==== | ====Organise your writing.==== | ||