Revised 2009 ISDA Global Physical Coal Annex

(revised version, published October 30, 2009)

The 2009 ISDA Global Physical Coal Annex is intended to facilitate the purchase or sale of physical coal (sourced in international markets as well as the US) on a spot or forward basis, or trading in options to purchase or sell physical coal. The ISDA Coal Annex allows market participants to enter into physical coal transactions, other physical commodity transactions and financial derivatives under one master agreement and enables these contracts to be netted under the netting provisions of the ISDA Master Agreement. The ISDA Coal Annex is based the Coal Annex on the Coal Trading Association’s (CTA) Master Coal Purchase and Sale Agreement for US sourced coal; the Edison Electric Institute’s (EEI) Coal Annex to the EEI Master Power Purchase and Sale Agreement, also for US coal; and globalCOAL’s Standard Coal Trading Agreement (SCoTA®) (for coal sourced outside the US) each of which is already in use in the coal markets. The 2009 revised ISDA Coal Annex reflects several changes that have been applied to the CTA and SCoTA agreements since the initial publication in 2007.

In addition to this, ISDA has published a suite of standard confirmation templates for forward and option transactions in International Coal and US Coal respectively. This format builds on the global scope of the Coal Annex. It offers users the option to document US Coal under Appendix 1 and International Coal under Appendix 2.  Appendix 2 incorporates by reference SCoTA terms including globalCOAL’s Relevant Standard Specifications which set out terms, conditions and quality standards based on local port rules.

Free downloads for Revised 2009 ISDA Global Physical Coal Annex (2)