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Template:M summ 2002 ISDA 6(d): Difference between revisions
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This clause | This clause is to do with working out the termination value of {{isdaprov|Transaction}}s for which you’ve just designated an {{isdaprov|Early Termination Date}}: in the {{1992ma}} using {{isda92prov|Loss}} and {{isda92prov|Market Quotation}}, and all that {{isda92prov|Second Method}} malarkey, and in the {{2002ma}} the much neater and tidier {{isdaprov|Close-out Amount}} concept. | ||
Generally, this is good fat-tail paranoia material, so once upon a time parties used to negotiate it heavily. General [[SME]]-drain from the negotiation [[talent pool]] over the years due to vigorous [[Downgrading - waste article|down-skilling]] means people are less fussed about it now. | |||
A popular parlour game among those [[negotiator|pedants]] who still insist on using the {{1992ma}}<ref>Or, in fairness, are ''forced to'' by some other pedant further up their chain, or a general institutional disposition towards pedantry.</ref> is to laboriously upgrade every inconsistent provision in the {{1992ma}} to the {{2002ma}} standard except the one provision of the {{1992ma}} they always liked — if the pedant is in question is from the [[Treasury]] department, that will be the longer [[grace period]] in the {{isdaprov|Failure to Pay}}; if she is from [[Credit department|Credit]], it absolutely won’t be. | A popular parlour game among those [[negotiator|pedants]] who still insist on using the {{1992ma}}<ref>Or, in fairness, are ''forced to'' by some other pedant further up their chain, or a general institutional disposition towards pedantry.</ref> is to laboriously upgrade every inconsistent provision in the {{1992ma}} to the {{2002ma}} standard except the one provision of the {{1992ma}} they always liked — if the pedant is in question is from the [[Treasury]] department, that will be the longer [[grace period]] in the {{isdaprov|Failure to Pay}}; if she is from [[Credit department|Credit]], it absolutely won’t be. | ||