Template:Isda 3(a) general: Difference between revisions
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==={{ | ==={{{{{1}}}|3(a)(v)}} {{{{{1}}}|Obligations Binding}}=== | ||
'''“any {{ | '''“any {{{{{1}}}|Credit Support Document}} to which it is a party”''': Business at the front; party at the back. | ||
Now given that a {{ | Now given that a {{{{{1}}}|Credit Support Document}} will generally be a deed of [[guarantee]], [[letter of credit]] or some other third party form of credit assurance from a, you know, ''third party'' to which a Party in whose favour it is provided will not ''be'' a “party” — and no, an {{csa}} is ''not'' a {{{{{1}}}|Credit Support Document}}, however much it might ''sound'' like one<ref>Of course, the {{nycsa}} ''is'' a Credit Support Document. Because it just is.</ref>, one might wonder what the point would be of mentioning, in this sub-section, {{{{{1}}}|Credit Support Document}}s to which a {{{{{1}}}|Party}} is ''party''. | ||
Well — and this might come as a surprise | Well — and this might come as a surprise if you’re an [[ISDA ingénue]]; old lags won’t bat an eyelid — there isn’t much point. | ||
But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language | But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language unless you were a ''stone-cold bore''? | ||
Hang on: Why are you looking at me like that? | Hang on: Why are you looking at me like that? | ||
Latest revision as of 00:01, 19 April 2020
{{{{{1}}}|3(a)(v)}} {{{{{1}}}|Obligations Binding}}
“any {{{{{1}}}|Credit Support Document}} to which it is a party”: Business at the front; party at the back.
Now given that a {{{{{1}}}|Credit Support Document}} will generally be a deed of guarantee, letter of credit or some other third party form of credit assurance from a, you know, third party to which a Party in whose favour it is provided will not be a “party” — and no, an 1995 CSA is not a {{{{{1}}}|Credit Support Document}}, however much it might sound like one[1], one might wonder what the point would be of mentioning, in this sub-section, {{{{{1}}}|Credit Support Document}}s to which a {{{{{1}}}|Party}} is party.
Well — and this might come as a surprise if you’re an ISDA ingénue; old lags won’t bat an eyelid — there isn’t much point.
But does anyone, other than the most insufferable pedant, really care? I mean why would you write a snippy wiki article about some fluffy but fundamentally harmless language unless you were a stone-cold bore?
Hang on: Why are you looking at me like that?
- ↑ Of course, the 1994 New York law CSA is a Credit Support Document. Because it just is.