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Posts Tagged ‘crisis’

Call your congress person. Lets get it done.

Force Majeure in the ISDA Master agreement http://www.aar.com.au/pubs/pdf/baf/fobafmar03.pdf

Relevant section:

The 1992 Agreement did not include a force majeure
(or impossibility) termination event due to lack of
market consensus on the need for such a provision.
The events of the past two years have consolidated
market opinion on the need for the force majeure
termination event. It is introduced at section 5(b)(ii) of
the 2002 Agreement.

A force majeure termination event will occur if, by
reason of force majeure or act of state, the offi ce
through which a party (or its credit support provider) is
acting is prevented from making or receiving payments
or deliveries or it becomes impossible or impracticable
for that offi ce to make or receive payments or
deliveries.

About CDS

http://www.tavakolistructuredfinance.com/CDS.pdf

Duration : 0:3:39

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