But: this is only valid to the extent that your compensation agreement does not actively do something crazy, as for example. B the abandonment of the receivables that have been transferred and the allocation of these amounts as « excluded termination amounts that are not subject to compensation ». I know what you`re thinking. « But why would anyone do that on God`s green land? » This may be the question you could ask the FIA crack drafting team, which has confused the FIA`s Professional Client Agreement that does just that. The Captain`s Agreement is a document agreed between two parties, which sets standard conditions for all transactions between these parties. Each time a transaction is concluded, the terms of the framework agreement should not be renegotiated and applied automatically. 1 (a) Definitions. Most definitions are in section 14, but some are scattered throughout the master`s convention. 1 b) Inconsistent. When they are in conflict, each confirmation overwhelms the timeline, and the calendar crushes the mastery agreement. 1 c) Single agreement. For each transaction, the parties rely on the master contract and all current confirmations are a single agreement. You would not enter into a transaction otherwise.
View In disagreement with Flaux J before the High Court, the court found that all transactions under the ISDA director`s contract are subject to automatic early termination – there is no basis for excluding transactions for which the last date of the benefit had elapsed before the automatic early termination came into effect. The Tribunal found that the High Court`s approach is contrary to the provision of Section 1, Point (c), of the ISDA Master Contract, which results in the obligations contained in all transactions not being dealt with separately and separately, but are subject to the contractual framework of the ISDA master contract, including the date of an early termination date. Most of Section 1 may be theatrical throat clearing, but section 1 (c) is important – after a few lights, you even have a master contract from ISDA: it guarantees your close compensation analysis and claims that all transactions under the ISDA master contract are inseparable in an entire company. , concerted and friendly. If (God forbid) your counterparty imploded, a thoughtless administrator might feel that the three-year jet-fuel swap you traded in July 2012 had nothing to do with your 6-month interest rate swap last February, and when it comes to who owes what, both should be treated as separate and uniform transactions.