Netting by novation: Difference between revisions
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Revision as of 14:20, 23 October 2012
Netting by novation agreements allow for individual forward-value contractual commitments, such as foreign exchange contracts, to be discharged upon confirmation and replaced by new obligations, all of which form part of a single agreement.
Amounts due under a discharged contract will be added to running balances due between the parties, in each currency and at each future value date.
See also