Template:M intro isda qualities of a good ISDA: Difference between revisions

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 === Consistent ===
+It helps with quality one if you have confidence in a scrape that you know what you're ISDA is going to say where it matters.  You can be sure of this if you are rigourous about quality control where it matters.  (Where it doesn’t — acquiescing to a counterparty’s required modern slavery representation or agreeing to the ethical treatment of the environment etc, you can afford to take a view)
+How, JC, do we force a counterparty to take our credit terms? No-one in their right mind would do that! We have to negotiate every time! And plus, we can’t stop our counterparties insisting on bespoke terms you know: this is a client service business! We cannot dictate!
+Quite so: and we commend [[serenity’s prayer]] to you. There is a portion of this you can change; your own docs. If you start off with something you know to be unacceptable to your customers do not be surprised when they do not accept it stop therefore, rebase your documents to be at least in concept of all from the off. There is a false economy or at any rate a mis alignment in believing that your premium clients should be offered better terms then your regular ones. Your premium customers take greater risk and present greater catastrophe.. on a greater scale stop if you are prepared to run this risk with the premium customer then you should be prepared to run it with a smaller custom or two. This will also reduce the time you spend fruitlessly negotiating with customers who you know be generating less of your revenue.
+Nor does de-escalating your starting position we can your hand in the negotiation. Your walk away remains your walk away Colin the sooner you get to it the better that it's does not take long tends to focus our customers mind even one a customed to long and rewarding negotiations.
+Furthermore if you are diligent and consistent in your positioning, customers and their advisors will quickly tyre of banging their heads against a brick wall and will accept what is, after all, a reasonable position.
+It is true that you cannot change the negotiating position of a truculent customer, but by rebating your documents to something more agreeable you perhaps avoid painting the clients into a corner from which it will not then back down in the first place.
 === Simple ===