Master Credit Derivatives Confirmation Agreements for Indian Credits

(published January 9, 2023)

This template is to be used for documenting Credit Derivative Transactions between two market participants in India. This template (which includes Annexes) incorporates by reference the 2014 ISDA® Credit Derivatives Definitions as supplemented by the 2019 Narrowly Tailored Credit Event Supplement (the “Credit Derivatives Definitions”). Any reference to the term ‘Market-maker’, ‘user’, ‘retail user’ and ‘non-retail user’ shall have the meaning ascribed to it in the Master Direction – Reserve Bank of India (Credit Derivatives) Directions, 2022 (“Master Directions”). The credit derivatives market is a regulated market in India and participants should ensure that they are familiar with the Master Directions (as amended from time to time) and other relevant regulations before transacting.

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