2018 ISDA Choice of Court and Governing Law Guide

2018 ISDA Choice of Court and Governing Law Guide

The ISDA Master Agreement contains the parties’ choice for the law which will govern the contract and transactions under its terms, as well as a provision specifying which courts can adjudicate upon any disputes about swaps governed by the Master Agreement. The terms dealing with governing law and choice of court were first published in 1987 and underwent revision for the 2002 Master Agreement. In light of legal developments which are relevant to how courts will deal with choices like these, ISDA has consulted with members and produced a new guide which offers new model clauses which users may choose to include in future transactions. These provisions include a simplified non-exclusive choice of court and, for the first time, a choice of an exclusive choice of court.

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