The main credit support documents in English law are the 1995 credit support annex, the 1995 credit support instrument and the 2016 credit support annex for the margin of change. English credit support laws provide for property guarantees, while English law provides for the granting of an interest rate on the value of the property through transferred security. The 2016 Credit Support Schedule for Variation Margin was specifically created to enable the parties to meet their commitments to exchange margin of change worldwide, including EMIR in Europe and Dodd-Frank in the United States of America. The English Credit Support Annexes laws are confirmations, and the transactions they have formed are transactions, within the framework of the master`s contract and therefore part of the single agreement with the master contract. On the other hand, the English legal act Credit Support Deed is a separate agreement between the parties. The framework contract is quite long and the negotiation process can be difficult, but once a framework contract is signed, the documentation of future transactions between parties will be reduced to a brief confirmation of the essential terms of the transaction. What is protocol? The 2002 master agreement, published in July last year, is the youngest member of the ISDA family. ISDA began drafting minutes in 1998 by publishing its protocol to the European Monetary Union, which had more than 1,100 market participants. The issues are perhaps different, but the common characteristic of the protocols is the multilateral mechanism they provide. This mechanism allows one party to address certain issues between itself and all other proponents of the protocol by a simple act, saving time and costs that would otherwise have to be devoted to several bilateral negotiations. The framework contract allows the parties to calculate their net financial commitment in over-the-counter transactions, i.e. a party calculates the difference between what it owes to a counterparty under a master contract and what the consideration owes under the same agreement.

The ISDA Masteragrement, published by the International Swaps and Derivatives Association, is the most widely used master service contract for otC derivatives transactions internationally. It is part of a documentary framework that aims to provide comprehensive and flexible documentation on OVER-the-counter derivatives. The framework consists of a master contract, a calendar, confirmations, definition brochures and credit support documentation. The Captain`s Agreement is a document agreed between two parties, which sets standard conditions for all transactions between these parties.