The International Energy Credit Association (IECA) announced today that it has completed a standardized form of master netting agreement which is available for download from its website at www.ieca.net/education-resources/master-netting-agreement
Quoting from the website, it states that compared to other forms, its advantages include the following:
- It is shorter and easier to use
- It is supported by legal opinions in two key jurisdictions (England & Wales and US)
- Designed for use with long form or bespoke transactions in addition to those covered by master trading agreements
- Drafting team intentionally considered use with a variety of commodities, including power, gas, crude, refined products, NGLs, metals, freight, emissions, and other environmental products.