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Template:M summ GMRA 19: Difference between revisions
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[[For]] a wealth of reasons we obsess far more than we need about [[sovereign immunity]] in global markets contracts than we should — it is all good fun, though, and keeps more pedestrian legal eagles busy worrying about things. Even though the {{gmra}} is designed as a self-help remedy contract which should not need litigation, and even though there is generally no immunity from suit under a commercial contract under English law, and even though your geopolitical risk when dealing with sovereigns dwarfs your contractual one, people still insist. It will be annoying when you are asked to strike the clause, by an actual sovereign, and you find you have contracted out of your protections under the [[Sovereign Immunity Act 1978]] though, won’t it. | [[19 - GRMA Provision|For]] a wealth of reasons we obsess far more than we need about [[sovereign immunity]] in global markets contracts than we should — it is all good fun, though, and keeps more pedestrian legal eagles busy worrying about things. Even though the {{gmra}} is designed as a self-help remedy contract which should not need litigation, and even though there is generally no immunity from suit under a commercial contract under English law, and even though your geopolitical risk when dealing with sovereigns dwarfs your contractual one, people still insist. It will be annoying when you are asked to strike the clause, by an actual sovereign, and you find you have contracted out of your protections under the [[Sovereign Immunity Act 1978]] though, won’t it. | ||
{{sovereign immunity and closeout}} | {{sovereign immunity and closeout}} | ||