Section 7 of BNQFCA : Section 7: Net Amount
BNQFCA
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Explanation using Example
Imagine a scenario where Company A and Company B have several derivative contracts between them. These contracts are 'qualified financial contracts' and are covered by a 'netting agreement' that they both signed. One day, due to financial difficulties, Company A declares bankruptcy, triggering the 'close-out netting' process.
Accor...
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