Examples of Netting Agreement in a sentence
A standard form Netting agreement is a form of agreement which is prepared by a reputable, internationally recognised industry association and is supported by its own legal opinion.
Where additional clauses are added to a standard form Netting agreement, the Authorised Firm should satisfy itself that the amended Netting agreement continues to meet the legal and contractual requirements in section 4.7. For instance, in such cases, an Authorised Firm may wish to obtain a second legal opinion to confirm that the relevant requirements in section 4.7 are still satisfied.
An Authorised Firm should assess whether any qualifications, assumptions or reservations contained in the legal opinion cast doubt upon the enforceability of the Netting agreement.
An Authorised Firm using a standard form Netting agreement and a supporting legal opinion should ensure that the relevant requirements in section 4.7 are met.
Netting agreement 2.13 If on any date the same amounts are payable in respect of FX Contracts under the Agreement by each party to the other in the same currency, then each party’s obligations to make payment of any such amount will be automatically satisfied by netting.