Relevant Jurisdiction - ISDA Provision

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2002 ISDA Master Agreement

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Relevant Jurisdiction in a Nutshell

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Relevant Jurisdiction in all its glory

Relevant Jurisdiction” means, with respect to a party, the jurisdictions (a) in which the party is incorporated, organised, managed and controlled or considered to have its seat, (b) where an Office through which the party is acting for purposes of this Agreement is located, (c) in which the party executes this Agreement and (d) in relation to any payment, from or through which such payment is made.

Related agreements and comparisons

Click here for the text of Section Relevant Jurisdiction in the 1992 ISDA
The two definitions are identical. Like properly identical.

Resources and Navigation

This provision in the 1992

Resources Wikitext | Nutshell wikitext | 1992 ISDA wikitext | 2002 vs 1992 Showdown | 2006 ISDA Definitions | 2008 ISDA | JC’s ISDA code project
Navigation Preamble | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14
Events of Default: 5(a)(i) Failure to Pay or Deliver5(a)(ii) Breach of Agreement5(a)(iii) Credit Support Default5(a)(iv) Misrepresentation5(a)(v) Default Under Specified Transaction5(a)(vi) Cross Default5(a)(vii) Bankruptcy5(a)(viii) Merger without Assumption
Termination Events: 5(b)(i) Illegality5(b)(ii) Force Majeure Event5(b)(iii) Tax Event5(b)(iv) Tax Event Upon Merger5(b)(v) Credit Event Upon Merger5(b)(vi) Additional Termination Event

Index: Click to expand:



Relevant Jurisdiction carries the same non-meaning in the 2002 ISDA as it did in the 1992 ISDA. Which is nice.



Relevant Jurisdiction is a special artefact in the ISDA canon because, insofar as the ISDA Master Agreement proper is concerned, it is the only piece of text that falls definitively below the Biggs threshold. It isn’t used in the ISDA Master Agreement itself at all.

HOLD YOUR LETTERS, PEDANTS. Yes, it is true, it does feature in the printed form in the Part 2 Payer Representations. But these are, by their terms, voluntary, optional and malleable commercial terms, that the parties may strike out or adjust, leaving the Relevant Jurisdiction dangling there behind the ISDA’s woolly posterior, like a dag that may not be shorn. The irony! Relevant to what?! Nothing!

You might ask why this definition — which is tedious, sure, but hardly a backbreaker — couldn’t have been wrapped into the text of the actual representation in Part 2

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  • The JC’s famous Nutshell summary of this clause

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See also