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LexisNexis Practical Guidance®
Straightforward guidance across a range of topics
- Derivatives
- Termination of financial derivatives
Notices to send when terminating derivative transactions early
If an ISDA contract is going to be terminated, it is important to ensure that the terms of the ISDA Master Agreement permitting Early Termination are followed to the letter. Any error can lead to the termination not having been effected properly and being invalid.
This guidance note details how to send a notice under s 6 of the ISDA Master Agreement to terminate a derivative transaction and what to include in:
- • a Potential Event of Default notice;
- • an Event of Default notice;
- • a Termination Event notice; and
- • a calculation statement.
See Notices to send when terminating derivative transactions early.
