Template:Nutshell ISDA Give-Up 5(a): Difference between revisions
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5(a) {{prov|{{igu}}|Delivery and Effectiveness of Communication}}. All | {{prov|{{igu}}|5(a)}} '''{{prov|{{igu}}|Delivery and Effectiveness of Communication}}'''. All communications ''except {{prov|{{igu}}|Trade Notice}}s and {{prov|{{igu}}|termination notice}}s'' can<ref>Or must --- see [[Greenclose]]</ref> be delivered by: | ||
:(i) mail (return receipt requested), courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date delivered or delivery is attempted; | :(i) mail (return receipt requested), courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date delivered or delivery is attempted; | ||
:(ii) fax (''yes! fax!'') and deemed effective on the date legibly received by an employee of the recipient (ie the sender’s transmission report won’t count) | :(ii) fax (''yes! fax!'') and deemed effective on the date legibly received by an employee of the recipient (ie the sender’s transmission report won’t count) | ||
:(iii) [[electronic messaging system]] or [[email]] and deemed effective on the date received. | :(iii) [[electronic messaging system]] or [[email]]<ref>Don't get me started on what the difference between these is but if you're really interested go see [[Greenclose]]</ref> and deemed effective on the date received. | ||
A notice details are those specified in {{prov|{{igu}}|Part 6}} of the {{prov|{{igu}}|Schedule}. | A notice details are those specified in {{prov|{{igu}}|Part 6}} of the {{prov|{{igu}}|Schedule}. | ||
The parties may reasonably rely on communications they believe are genuine. | The parties may reasonably rely on communications they believe are genuine. | ||
Revision as of 17:58, 21 October 2016
5(a) Delivery and Effectiveness of Communication. All communications except Trade Notices and termination notices can[1] be delivered by:
- (i) mail (return receipt requested), courier or in person (provided that an acknowledgement of delivery is obtained) and deemed effective on the date delivered or delivery is attempted;
- (ii) fax (yes! fax!) and deemed effective on the date legibly received by an employee of the recipient (ie the sender’s transmission report won’t count)
- (iii) electronic messaging system or email[2] and deemed effective on the date received.
A notice details are those specified in Part 6 of the {{prov|ISDA Give-Up|Schedule}. The parties may reasonably rely on communications they believe are genuine.
- ↑ Or must --- see Greenclose
- ↑ Don't get me started on what the difference between these is but if you're really interested go see Greenclose