Template:M intro isda Party A and Party B: Difference between revisions

{{smallcaps|A belief in}} even-handedness gripped the ones whose [[deep magic]] forged the runes of that ancient [[First Swap]]. Not just a two-sided structure — most private contractual arrangements have that — but a ''symmetrical'' one, lacking the relationship of dominance and subservience that traditional finance contracts imply. Unusually here there is not necessarily a large, institutional “have” indulging a small commercial “have-not” with its favours in the form of loaned money or extended credit, for which privilege the lender can extract excruciating [[covenant]]s, giving not a jot in return, and enjoy a preferred place amongst the [[customer]]’s many scrapping creditors.