Template:M comp disc 1992 ISDA 6(f): Difference between revisions

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(Created page with "The {{1992isda}} does not have a specific set off provision, although it manages to define {{isda92prov|Set-off}} anyway. ISDA published a suggested set-off provision...")
 
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The {{1992isda}} does not have a specific set off provision, although it manages to define {{isda92prov|Set-off}} anyway.
{{isda 6(f) comp|isda92prov}}
 
[[ISDA]] published a suggested [[set-off]] provision in the [[Users Guide]] but no-one liked it, and several bespoke versions developed and percolated around 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}}.
 
{{icds}} got the hint and implemented a fully-fledged set-off provision based on this language into the {{2002ma}} — but not without a little boo-boo. You can read all about it, and the boo-boo, and what people have done to fix it, at our article about that Section {{isdaprov|6(f)}} {{isdaprov|Set-off}} provision.

Latest revision as of 09:32, 6 January 2024

The 1992 ISDA does not have a specific set-off provision, although it manages to define Set-off anyway.

ISDA published a suggested set-off provision in the 1992 User’s Guide but no-one liked it, and before long several home-made versions were percolating around the market. These often permitted set-off between the Innocent Party’s Affiliates and the non-performing party.

ISDA’s crack drafting squad™ got the hint and implemented a fully-fledged set-off provision based on this language into the 2002 ISDA — but not without a little boo-boo. As to which, read on —

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