Governance and Governing law: Difference between pages
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''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. | |||
:<span style="color:#4B0082">'''''LIBOR transition - USD markets - next steps - check the governing law'''''</span> | |||
:"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.'' | |||
:<span style="color:#4B0082">'''''Cross-border pooling - importance of differing legal systems'''''</span> | |||
:"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. | |||
== See also == | == See also == | ||
* [[ | * [[Capacity]] | ||
* [[Contract]] | * [[Contract]] | ||
* [[ | * [[Court]] | ||
* [[Jurisdiction]] | * [[Jurisdiction]] | ||
*[[ | * [[Legal implications of cash pooling structures]] | ||
* [[ | * [[Notional pooling]] | ||
*[[ | * [[Private international law]] | ||
* [[ | * [[Proper law]] | ||
* [[Regime]] | * [[Regime]] | ||
* [[ | * [[Repatriated]] | ||
*[[ | * [[Resident]] | ||
*[[ | * [[State]] | ||
*[[ | * [[State immunity]] | ||
*[[ | * [[Zero balancing]] | ||
[[Category: | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category: | [[Category:The_business_context]] | ||
[[Category: | [[Category:Identify_and_assess_risks]] | ||
[[Category:Manage_risks]] | [[Category:Manage_risks]] | ||
[[Category:Risk_frameworks]] | [[Category:Risk_frameworks]] | ||
[[Category: | [[Category:Risk_reporting]] | ||
[[Category:Cash_management]] | |||
[[Category:Financial_products_and_markets]] | |||
[[Category:Liquidity_management]] |
Revision as of 08:58, 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.