Notices

Indra Rajaratnam

19.1 INTRODUCTION

This chapter concentrates on the administrative notification procedures under the 2014 ISDA Credit Derivatives Definitions (henceforth the “2014 Definitions”; see International Swaps and Derivatives Association Inc. 2014b). The discussion is focused primarily on credit event related notices, settlement-related notices and the successor notice. The importance of some of the key notices required to be delivered under a CDS and the risks relating to non-delivery of the relevant notices are highlighted. The descriptions, form and content requirements of these notices, and the prescribed deadlines for delivery of the relevant notices are discussed. Finally, the general notice provisions, including the rules that govern the effective date of the notices delivered under the 2014 Definitions, are addressed.

19.2 IMPORTANCE OF NOTICES AND RISKS OF NON-DELIVERY

During the life of a transaction, the parties to a transaction may be required to deliver one or more notices to the other party and/or the calculation agent. As the notice requirements can be intensive to administer, given the tight deadlines that need to be met for notices to be effective, market participants

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: