Jurisdiction(s):
United Kingdom

Key definition

ISDA definition

What does ISDA mean? In legal practice, “ISDA” refers to the International Swaps and derivatives Association, the global industry body for the over-the-counter (OTC) derivatives market. The term is not defined in legislation or case law; it is a descriptive label for the association and its standard derivatives documentation framework. ISDA publishes the ISDA Master Agreement (1992 and 2002 versions), the Credit Support Annex/Deed, Schedules, product Definitions (including the 2021 ISDA Interest Rate Derivatives Definitions and 2014 ISDA Credit Derivatives Definitions), and market Protocols (covering EMIR/UK EMIR compliance, margin, and IBOR fallbacks). This documentation is the market standard for OTC derivatives such as interest...

ISDA Master Agreement Back-End: Practical Guidance on Sections 7–14—Transfers, Contractual Currency, Miscellaneous, Offices, Expenses, Notices, Governing Law/Jurisdiction and Definitions

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Practice notes

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What does this Practice Note cover?

This Practice Note explains the scope of Sections 7 to 14 of the International Swaps and Derivatives Association, Inc (ISDA), often described as the ‘back-end’.

ISDA documents

The 1992 and 2002 ISDA Master Agreements (the Master Agreements) are standard-form documents produced by ISDA. In this Practice Note, any reference to Sections of a Master Agreement or to Parts of a Schedule is, unless indicated otherwise, a reference to the 2002 ISDA Master Agreement and its Schedule. For general information on negotiating ISDA Master Agreements, see Introduction to negotiating ISDA documents.

The 'Back end' of an ISDA Master Agreement

This element of the Master Agreement corresponds to what is commonly termed the ‘boilerplate’ in financing documentation. See Boilerplate for more information. It sets out provisions addressing matters such as currencies, governing law, notices and related points. Although it is not usually the principal focus of negotiations, it remains important for anyone negotiating a Master Agreement to be fully aware of these provisions...

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Web page updated on 21/05/2026

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