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Set-off - ISDA Provision: Difference between revisions
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The {{1992isda}} does not have a specific set off provision, although it manages to define {{isdaprov|Set-off}}, however: | The {{1992isda}} does not have a specific set off provision, although it manages to define {{isdaprov|Set-off}}, however: | ||
:{{clause|ISDA|Master Agreement|1992|Set-off Definition}} | :{{clause|ISDA|Master Agreement|1992|Set-off Definition}} | ||
ISDA published a provision in the [[Users Guide]] but several bespoke versions of a set-off provision developed and were used in the market. These often provided for the inclusion of '''{{isdaprov|Affiliate}}s''' in relation to the {{isdaprov|Non-defaulting Party}} or {{isdaprov|Non-affected Party}}. It goes something like this: | ISDA published a provision in the [[Users Guide]] but several bespoke versions of a set-off provision developed and were used in the market. These often provided for the inclusion of '''{{isdaprov|Affiliate}}s''' in relation to the {{isdaprov|Non-defaulting Party}} or {{isdaprov|Non-affected Party}}. It goes something like this: | ||