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ARTICLE · 03 MAY 2012

Calculation Dispute Resolution Procedure: A New Detailed Process For Dispute Resolution

Jones Day
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In July 2011, ISDA published the 2011 ISDA Equity Derivatives Definitions (the "2011 Definitions").

United StatesLitigation, Mediation & Arbitration
Ilene Froom
Ilene Froom
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In July 2011, ISDA published the 2011 ISDA Equity Derivatives Definitions (the "2011 Definitions").1 Within this publication is an entire Article, numbered 22, devoted solely to the "Calculation Dispute Resolution Procedure." At just over 15 pages in length and including additional terms that are defined elsewhere in the 2011 Definitions but that are used in this Article, one might wonder how a provision on the Calculation Agent dispute process takes up so much space. The answer is that there are many facets of and details as to how a Calculation Dispute Resolution Procedure can work.

The role of the Calculation Agent is critical, as it is the party that makes determinations under transactions, such as adjustments for corporate events and how much money one party owes the other on one or more payment dates.

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