Transaction - 1992 ISDA Provision

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1992 ISDA Master Agreement
A Jolly Contrarian owner’s manual™

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Section preamble in a Nutshell

Use at your own risk, campers!

Full text of Section preamble

(Multicurrency — Cross Border)

International Swap Dealers Association, Inc.


dated as of ......................................


have entered and/or anticipate entering into one or more transactions (each a “Transaction”) that are or will be governed by this Master Agreement, which includes the schedule (the “Schedule”), and the documents and other confirming evidence (each a “Confirmation”) exchanged between the parties confirming those Transactions.

Accordingly, the parties agree as follows: —

Related agreements and comparisons

Related Agreements
Click here for the text of Section preamble in the 2002 ISDA
Template:Isdadiff preamble

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Content and comparisons

Little material difference between the 1992 ISDA and the 2002 ISDA here. ISDA’s crack drafting squad™ being, by 2002, a more world-weary, battle-hardened combat unit than it was in 1992, was more alive in the 2002 ISDA to the idea that one might confirm Transactions other than via a full-blown Confirmation: those with master confirmation agreements and who match commoditised swap transactions through online trade matching systems may appreciate this acknowledgement, but it still falls in the circular “goes without saying” filing cabinet in this commentator’s opinion.



The preamble, which talks in somewhat laboured terms about the architecture of the ISDA contract, is the only place in the ISDA Master Agreement where the concept of the “Transaction” — being the actual swaps you put on under one of these confounded agreements — is defined.


General discussion

Template:M gen 1992 ISDA preamble


See also

Template:M sa 1992 ISDA preamble