The International Securities Lending Association (ISLA) has published new templates for its Global Master Securities Lending Agreement (GMSLA).
Accompanying the 2000, 2010 and 2018 versions of the documentation, the ISLA Documentation Subgroup in collaboration with Linklaters have released four new templates.
The new templates are Mini Close-Out Notice, Default Notice, Termination Notice and Amendment Agreement.
The templates have been produced to provide a point of reference for parties who have not otherwise developed their own, the Association says.
ISLA states that it does not seek to create any new standard, or to change existing practices. Use of the templates is not mandatory and parties may adapt the templates as required.
The Association’s working group, ISLA Document Digitisation Working Group, is currently focusing on digitising the GMSLA — concentrating initially on integrating business outcomes from the Association’s Clause Library and Taxonomy into the Common Domain Model (CDM).
