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ISDA® Master Agreement
Practical Law UK Glossary 6-107-6307 (Approx. 3 pages)
Glossary
ISDA® Master Agreement
A framework agreement developed by the International Swaps and Derivatives Association, Inc. (ISDA®) under which individual over-the-counter derivatives transactions may be carried out between two parties.
There are three commonly used versions of the ISDA Master Agreement:
- Two 1992 versions:
- A local currency-single jurisdiction version which is designed for transactions where there is no international element.
- A multicurrency cross-border version (1992 ISDA Master Agreement) which is designed for transactions with any international element (although it can be used where there is no international element). For more information, see Practice note, Understanding the 1992 ISDA® master agreement and schedule.
- A 2002 ISDA Master Agreement. The 2002 ISDA Master Agreement is a modified version of the 1992 ISDA Master Agreement and is designed for use on all types of derivatives transactions. For more information, see Practice note, 2002 ISDA® master agreement and schedule.
For further information, see Practice note, ISDA® documents: overview (UK).
"ISDA" is a registered trademark of the International Swaps and Derivatives Association, Inc. (ISDA). ISDA is not a sponsor of Practical Law and had no part in the development of this resource.