Governing law: Difference between revisions
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:<span style="color:#4B0082">'''''LIBOR transition - USD markets | :<span style="color:#4B0082">'''''LIBOR transition - USD markets - 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. | :"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. | ||
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* [[Capacity]] | * [[Capacity]] | ||
* [[Contract]] | * [[Contract]] | ||
* [[Convention]] | |||
* [[Court]] | * [[Court]] | ||
* [[Domicile]] | |||
* [[Extraterritorial jurisdiction]] | |||
* [[Fallback]] | * [[Fallback]] | ||
* [[International law]] | |||
* [[Jurisdiction]] | * [[Jurisdiction]] | ||
* [[Law]] | |||
* [[Legal implications of cash pooling structures]] | * [[Legal implications of cash pooling structures]] | ||
* [[Notional pooling]] | * [[Notional pooling]] | ||
| Line 43: | Line 48: | ||
* [[Proper law]] | * [[Proper law]] | ||
* [[Regime]] | * [[Regime]] | ||
* [[Regulation]] | |||
* [[Repatriated]] | * [[Repatriated]] | ||
* [[Resident]] | * [[Resident]] | ||
| Line 48: | Line 54: | ||
* [[State immunity]] | * [[State immunity]] | ||
* [[Zero balancing]] | * [[Zero balancing]] | ||
==Other resource== | |||
*[https://www.treasurers.org/hub/blog/LIBOR-update-June-2022 LIBOR transition - governing law - ACT blog - June 2022] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
Latest revision as of 13:17, 23 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 - 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.
See also
- Capacity
- Contract
- Convention
- Court
- Domicile
- Extraterritorial jurisdiction
- Fallback
- International law
- Jurisdiction
- Law
- Legal implications of cash pooling structures
- Notional pooling
- Private international law
- Proper law
- Regime
- Regulation
- Repatriated
- Resident
- State
- State immunity
- Zero balancing
