Scope of the ISDA Master Agreement—Sections 7 to 14 (the 'back-end')
Scope of the ISDA Master Agreement—Sections 7 to 14 (the 'back-end')

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Scope of the ISDA Master Agreement—Sections 7 to 14 (the 'back-end')
  • ISDA documents
  • The 'back end' of an ISDA Master Agreement
  • Section 7—Transfer
  • Section 8—Contractual Currency
  • Section 9—Miscellaneous
  • Section 10—Offices; Multibranch Parties
  • Section 11—Expenses
  • Section 12—Notices
  • Section 13—Governing Law and Jurisdiction
  • more

ISDA documents

The 1992 and 2002 ISDA Master Agreements (the Master Agreements) are standard form documents produced by the International Swaps and Derivatives Association, Inc (ISDA).

In this Practice Note, references to Sections of a Master Agreement and Parts of a Schedule are references to the 2002 ISDA Master Agreement and Schedule unless otherwise stated.

For general information about negotiating ISDA Master Agreements, see Introduction to negotiating ISDA documents.

The 'back end' of an ISDA Master Agreement

This part of the Master Agreement relates to what is commonly called the 'boilerplate' in financing documentation. See Boilerplate for more information.

This part of the Master Agreement contains provisions relating to items such as currencies, governing law, notices etc. It is usually not the primary area of focus for negotiations, but it is important for anyone negotiating a Master Agreement to the fully aware of the provisions.

Section 7—Transfer

Section 7 (Transfer) of the Master Agreement limits the ability of a party to transfer any interests in the Master Agreement without the other party’s prior written consent. This provision does not impede transactions under Section 6(b)(ii) (Transfer to Avoid Termination Event) or the transfer of any interest in amounts received from a Defaulting Party under Section 6(e) (Payments on Early Termination). It will also capture any interest transferred by way