Rights, Duties and Obligations of Counter-Parties following Default under Derivative Contracts
DOI:
https://doi.org/10.29173/alr487Keywords:
Energy Law, Petroleum LawAbstract
The article discusses the use of derivative contracts as a risk-management tool and the results of terminating such contracts, including: termination under conditions of insolvency and non-insolvency of a counter party; the use of collateral security to mitigate the risks of contractual obligations that might terminate prematurely; the duty to negotiate in good faith; notice requirements for termination of a derivative contract; and damages/penalties that arise when a contract is terminated prior to completion.Downloads
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