Sandbox

The Devil’s Advocate Notes on the absurdity of office life.	For the legal eagles Common legal agreements, examined.	For malcontents Miscellany. And eggs.
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Anatomies: Clause-by-clause Anatomy and nutshell guides (hit the bar on the left) to ISDA and other master trading agreements. These may be incomplete, out of date, out of touch, flippant — well, they are flippant — but will still be better value and more entertaining than that awful FT book about derivatives;
Book reviews culled from twenty indolent years sounding off on Amazon;
Much flippancy about plain English, buzzwords, technology, negotiation, flannel, Latin, Greek, metaphor and eggs.

Cross Default under an ISDA: that fabulously pointless Event of Default.
Synthetic prime brokerage: What is it? How is it different from natural prime brokerage? Can I iron it?
Independent Amount: What’s that again?
Assignment by way of security: Is it the same as a charge?
Automatic Early Termination ISDA’s crack drafting squad™’s “clever” end-run for silly insolvency regimes. What’s that all about?
Netting of Payments: The ISDA clause that shouldn’t be!
Set-off: Is it the same as close-out netting?
Credit Support Document: Is it the same as a Credit Support Annex? (Spoiler: In America, Yes... in England, No.)
ISDA Comparison What are the differences bvetween a 1992 ISDA and a 2002 ISDA? Should I care? (Spoiler: No.)
Lastly, Tai Hing Cotton Mill v Liu Chong Hing Bank: A great case, fallen on hard times.