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Process agent: Difference between revisions
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{{a|negotiation|{{subtable|{{process service rule 6.11}}}}}} | {{a|negotiation|{{subtable|{{process service rule 6.11}}}}}}{{process agent capsule}} | ||
{{process agent capsule}} | |||
===Who needs one? === | ===Who needs one? === | ||
Any counterparty who does not have a permanent place of business in England or Wales. Or their adjacent territorial waters. Process agents are standard in {{tag|English law}} {{tag|contract}}s with overseas counterparties. | Any counterparty who does not have a permanent place of business in England or Wales. Or their adjacent territorial waters. Process agents are standard in {{tag|English law}} {{tag|contract}}s with overseas counterparties. | ||
===How do I get a one?=== | |||
Many corporate trust and agency businesses act as process agents, although they charge outrageously for the service. Law firms used to do it, but they charged even more, and even then complained they couldn’t make any money out of it. | |||
If you have an [[affiliate]], [[agent]] or [[investment manager]] or buddy in England or Wales, best ask them if they will accept service on your behalf. | |||
====It would make a great play==== | ====It would make a great play==== | ||
It would be kind of cool to set up a process agency business on a barge moored in the Bristol Channel, just to make service on that process agent as hard as is humanly possible, and potentially impossible if a great storm blew in from the Atlantic on the last day of the statute of limitations. Would make a great play. Actually, now you mention it - [[The ISDA Protocol]]. | It would be kind of cool to set up a process agency business on a barge moored in the Bristol Channel, just to make service on that process agent as hard as is humanly possible, and potentially impossible if a great storm blew in from the Atlantic on the last day of the statute of limitations. Would make a great play. Actually, now you mention it - [[The ISDA Protocol]]. We quite like the idea of a process agent so in thrall to McKinsey that it has outsourced its whole operation to India | ||
====Careful with the territorial waters ==== | ====Careful with the territorial waters ==== | ||
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*{{isdaprov|Process Agent}} - ISDA provision | *{{isdaprov|Process Agent}} - ISDA provision | ||
*[https://www.justice.gov.uk/courts/procedure-rules/civil/rules/part06 Part 6 of the Civil Procedure Rules, governing the service of process] | *[https://www.justice.gov.uk/courts/procedure-rules/civil/rules/part06 Part 6 of the Civil Procedure Rules, governing the service of process] | ||
{{ref}} | |||