Terms and Conditions

The following are the terms of an agreement (“Agreement”) between you and The International Swaps and Derivatives Association, Inc. (“ISDA”) and effective as of the date you first access this web site. By accessing, browsing and/or otherwise using this web site (“Site”), you acknowledge that you have read, understood and agreed to be bound by these terms and conditions of access and use, and will comply with all applicable laws and regulations governing transactions involving the use of any protocol(s) published by ISDA on this Site (“ISDA  Protocol”).  If you do not agree to all of these terms and conditions, you may not access, browse and/or use this Site.  By clicking “Agree” you acknowledge that your access to and use of the Automated Protocol Management Service (the “Service”) is subject to the following terms:

  1. The Service is provided by ISDA as a service to market participants in the interests of market efficiency and transparency. Any party wishing to use a particular ISDA Protocol should consult with its legal advisors and any other advisors deemed appropriate prior to using or adhering to the ISDA Protocol.  ISDA assumes no responsibility for any use to which any ISDA Protocol – and any of its documentation — may be put.
  2. ISDA agrees that it will post information on its website as soon as reasonably practicable upon receipt of a valid adherence letter. However, ISDA does not commit to posting within any defined time period.  Accordingly, ISDA accepts no responsibility for any losses or any financial injury to any user, which losses or injury might arise, in whole or in part, from any delays, actual or alleged, in posting information, or for any outages or inability to access the Service or gain information about any particular ISDA Protocol.
  3. ISDA disclaims liability for any inaccuracies, errors or incomplete information posted on its website and also disclaims any and all liability relating to your use of the Service and/or your review, or adherence to, or use of any ISDA Protocol.
  4. UNDER NO CIRCUMSTANCES SHALL ISDA BE LIABLE TO THE USER AND/OR ANY THIRD PARTY, REGARDLESS OF THE FORM OF ACTION, ARISING FROM OR IN CONNECTION WITH INFORMATION OR SERVICES ON THE ISDA WEBSITE OR ANY PERSON’S USE OF THE SERVICE OR ISDA PROTOCOL(S), OR FOR ANY INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL OR PUNITIVE DAMAGES THAT MAY RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE SERVICE AND/OR TO ADHERE TO OR REVIEW ANY ISDA PROTOCOL.
  5. By accessing the Service you represent and undertake to ISDA that (i)  you will make your own independent decision as to whether to adhere to a ISDA Protocol, based upon your own judgment and upon advice from such advisors (including, but not limited to, legal, regulatory, investment, accounting and tax) as you have deemed necessary; (ii) you are not relying on any communication (written or oral) of ISDA or any of ISDA’s staff or agents as advice or as a recommendation as to the appropriateness of any course of action; and (iiii) none of ISDA or its staff or agents has acted or is acting as a fiduciary or an advisor to you in respect of any decision.
  6. ISDA does not and cannot guarantee or warrant that any files available for downloading from this Site will be free from infection, viruses, worms, Trojan horses, or other code that manifests contaminating or destructive properties.  Nor does ISDA warrant that this Site will be uninterrupted or error-free or that any defects in this Site will be corrected.
  7. Your access to and use of this Site and the terms of this Agreement are governed by the laws of the State of New York, without reference to its conflicts of laws principles and without regard to the location of execution or performance.
  8. Any and all disputes which may arise under this Agreement or with respect to your access to, reliance on or use of the Site or the Service or any ISDA Protocol shall be litigated exclusively before the Supreme Court of New York County or before the United States District Court for the Southern District of New York, where ISDA’s New York office is located, to the exclusion of the courts of any other state or country.
  9. In the event of any inconsistency between this Agreement and any ISDA Protocol, this Agreement shall prevail.