Q&As

Can I amend my 1992 ISDA Master Agreement to reflect the provisions set out in the 2002 ISDA Master Agreement?

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Published on LexisPSL on 29/09/2014

The following Banking & Finance Q&A provides comprehensive and up to date legal information covering:

  • Can I amend my 1992 ISDA Master Agreement to reflect the provisions set out in the 2002 ISDA Master Agreement?
  • What are the differences between a 1992 ISDA Master Agreement and a 2002 ISDA Master Agreement?
  • How can I adapt a 1992 ISDA Master Agreement?
  • What is the 2002 ISDA Master Agreement Protocol?

What are the differences between a 1992 ISDA Master Agreement and a 2002 ISDA Master Agreement?

The 2002 ISDA Master Agreement was published to take into account market developments and changes in market practice since the 1992 ISDA Master Agreement was published. The key difference concerns how changes are calculated with the close-out amount replacing the market quotation and loss methods found in the 1992 ISDA Master Agreement. The differences between the two forms of agreement are set out in Practice Note: ISDA documentation—comparison of the 1992 and 2002 master agreements.

How can I adapt a 1992 ISDA Master Agreement?

ISDA published a form of amendment (the Amendment) in March 2003 to allow parties to amend various sections of the 1992 ISDA Master

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