Documentation for Derivatives: Vol 1 - Hardcover

9781855649903: Documentation for Derivatives: Vol 1

Hardcover

ISBN 10: 185564990X ISBN 13: 9781855649903

Publisher: Euromoney Institutional Investor PLC, 2002

Written by leading New York financial lawyers, Anthony C. Gooch and Linda B. Klein this 460-page book is the third edition of the best-selling Swap Agreement Documentation and has been revised to include the 1992 ISDA( Master Agreement Forms. In four parts, it guides the reader through interest rate and currency swaps, caps and floors, collars and corridors, swaptions, FRAs, commodity swaps and equity-linked OTC derivatives. Detailed notes are provided on damages, credit support agreements, Libor, bankruptcy and insolvency problems.

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Synopsis

"Documentation for Derivatives" is written by US financial lawyers Anthony C. Gooch and Linda B. Klein. This fourth edition has been fully revised and expanded. Volume I explores the main legal issues so the reader can check whether agreements are enforceable and whether they present problems under US commodities and securities law. The volume includes documentation for swaps; caps and floors; collars and corridors; swaptions; FRAs; currency products (swaps, forwards and options); commodity-linked derivatives; credit; debt and equity derivatives (including credit default swaps and equity index swaps); and weather derivatives. This text also includes descriptions of specific classes of products, along with sample confirmations, to help the reader protect theirs and their clients' interests. "Documentation for Derivatives" is a useful documentation tool for anyone working in or around the derivatives market.

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General Introduction This book is designed to deal principally with the documentation of swaps and other cash-settled over-the-counter derivatives, and with the chief legal and practical concerns raised by that documentation. As a basic format, we have chosen annotated sample agreements and confirmations of the kinds commonly used today; the annotations explain how various provisions of the documents operate together, address the legal and business issues underlying the provisions and, in some cases, describe variants used by some market participants in their own forms or approaches they use in adapting standardised forms for their own use. The sample documents included in this volume should of course not be assumed to be suitable for any particular transaction; each transaction will have its own special features and the parties may have special institutional concerns and credit and other policies and practices that should be reflected and accommodated in their customised agreements. In addition, each transaction - its structure, its legality for the particular parties and its tax and accounting implications among others - must be examined within the statutory and regulatory frameworks that are or may be applicable; although this Introduction, the annotations to the sample agreements and several of the Notes included in Part 4 of this volume discuss some of these issues, the primary focus of this volume is on documentation, so these other, critical questions are merely touched on here. The parties to each OTC derivative transaction should analyse these issues with their legal counsel, accountants and tax advisers. AUTHOR BIO: Anthony C Gooch is a partner of Cleary, Gottleib, Steen & Hamilton, based in the firm's New York office. He works on international financial and commercial transactions, including documentation for transactions of the kinds illustrated in this volume, domestic and international loans, sovereign debt restructuring, international debt and equity issues, investment company offerings, asset securitizations, privatizations and cross-border mergers and acquisitions. Mr Gooch grew up in Brazil, and his practice includes work for Brazilian private- and public-sector entities, as well as international investors, lenders and investment banks with interests in Brazil and other Latin American countries. He holds a BA degree from the University of the South, a diploma from the College of Europe and JD and MCH degrees from New York University School of Law, where he was Articles Editor of the Law Review. Linda B Klein is counsel to Debevoise and Plimpton, based in the firm's New York office. She works on a wide variety of domestic and international financial transactions. Her practice includes work on derivative transactions of all kinds, as well as international loans and issues of debt and equity, particularly those involving Latin American borrowers and issuers, sovereign and private-sector debt restructuring, participation and assignment agreements and structured financings. She holds BA and MA degrees from Queens College and JD and PhD degrees from Columbia University, where she taught Latin American literature from 1971 to 1976 and was Editor-in-Chief of the Journal of Transnational Law in 1978-1979.

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