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

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 === Consistent ===
-{{Drop|I|t helps with}} clarity 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)
+{{Drop|I|t helps with}} clarity if you have confidence, in a scrape, that you know what your ISDA is going to say where it matters. You can be sure of this if you are control quality where it matters. (Where it doesn’t — where the request is to acquiesce to a counterparty’s modern slavery policy — which it win’t disclose to you — or agreeing to the ethical treatment of the polar  bears etc, you can afford to take a view.)
-“How, JC, are we supposed to 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!”
+“This is all very well but how, JC, are we supposed to force a counterparty to take our credit terms? It is a competitive market! No-one in their right mind would do that! We must 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.
+Quite so: and to get you through the livelong day we commend [[serenity’s prayer]] to you.
-There are things you ''can'' change — your own docs — and things you may not be able to: the customer’s pet peeves.
+You cannot control everything, it is true. But there are some things you ''can'' control: the starting point for your own docs, for one thing — and some things certainly cannot be able to: the customer’s pet peeves.
+But pet peeves have the general quality of being correct: few people are peeved at a failure to pay clause.
+If you configure your human system to constantly ''sand off'' rough edges when you encounter them then these pet peeves serve as a kind of carborundum.
+It is a curious fact that augmentations to a template — scar tissue from previous wounds —have a habit of sticking to your  legal forms, whereas simplifications do not. This is a cultural matter. It is in your gift to change it. You just need to take hearts and minds with you.
 ====== Your forms ======
-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 misalignment 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.
+if you start off with something you know to be offensive do not be surprised when they do not accept it.
+A useful rhetorical, seldom posed us this:
+{{Quote|If someone presented this term to me, would ''I'' accept it?}}
+Rebase your documents to executable, at least in concept, from the off.
+====Platinum plating====
+There is a false economy — at any rate a misalignment of risk and reward — in the widely held belief that “platinum” customers should be offered better terms then regular ones. Some firms even triage their starting point based on the size of the client.
+This has things precisely backwards. Your platinum generate the most revenue by taking the most risk 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.