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{{def|Due diligence|/djuː/ /ˈdɪlɪʤəns/|n|{{subtable|“That is a matter of legal interpretation and not an appropriate subject for a due | {{def|Due diligence|/djuː/ /ˈdɪlɪʤəns/|n|{{subtable|“That is a matter of legal interpretation and not an appropriate subject for a [[due diligence questionnaire]]. If the client wants to know this, they should ask their lawyers.”}}}} | ||
The [[tiresome]] process of seeking documentary assurance comfort from one’s [[contract|contractual]] counterparts — especially one’s [[custodian]]s, [[Clearing broker|clearer]]s and [[prime broker]]s — that they have a robust operational setup, staffed with well-motivated and enthusiastic [[subject matter expert]]s and are prudently connected to a network competent [[sub-custodian]]s, [[service-provider]]s and [[agent]]s so that, notwithstanding the skillfully negotiated [[indemnities]], [[covenant]]s, [[representation]]s and [[warranty|warranties]] your [[legal eagles]] have extracted from them in the [[verbiage]], your counterparties are nonetheless is ''factually'' capable of carrying out their obligations. | The [[tiresome]] process of seeking documentary assurance comfort from one’s [[contract|contractual]] counterparts — especially one’s [[custodian]]s, [[Clearing broker|clearer]]s and [[prime broker]]s — that they have a robust operational setup, staffed with well-motivated and enthusiastic [[subject matter expert]]s and are prudently connected to a network competent [[sub-custodian]]s, [[service-provider]]s and [[agent]]s so that, notwithstanding the skillfully negotiated [[indemnities]], [[covenant]]s, [[representation]]s and [[warranty|warranties]] your [[legal eagles]] have extracted from them in the [[verbiage]], your counterparties are nonetheless is ''factually'' capable of carrying out their obligations. | ||