Governing law: Difference between revisions
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* [[Contract]] | * [[Contract]] | ||
* [[Court]] | * [[Court]] | ||
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* [[Jurisdiction]] | * [[Jurisdiction]] | ||
* [[Legal implications of cash pooling structures]] | * [[Legal implications of cash pooling structures]] | ||
Revision as of 08:59, 14 June 2022
Law - international law - contract.
Governing law means the system of law to be applied to determine a dispute under a contract with non-domestic elements, usually specified by a governing law clause in the contract.
In the absence of a governing law clause, the applicable system of law is determined by convention, regulation or general law.
- LIBOR transition - USD markets - next steps - check the governing law
- "Check the Governing Law of your contracts – for example fallbacks may differ depending on the governing law of your contract (e.g. English or New York) as legislative solutions differ by jurisdiction.
- Do not assume that all USD contracts work in the same way."
- ACT blog - Sarah Boyce - Associate Director, Policy & Technical - June 2022.
- Cross-border pooling - importance of differing legal systems
- "The governing law for the intra-group cash pooling agreements is often English law for cross-border pooling.
- Alternatively the jurisdiction of the parent entity will be stipulated as applicable.
- For a Zero Balancing Agreement or a Notional Pooling Agreement, the bank will in many cases provide for a standardised agreement, with the bank’s domicile providing the legal jurisdiction.
- Treasurers should make themselves aware of the implications of using differing jurisdictions."
- Legal implications of cash pooling structures - the Treasurer's Wiki.
Contracts and other relationships without foreign elements will generally be governed by domestic law.
