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• Close out and Netting: The steps followed by the parties involved, to close the transaction. This happens in case an Event occurs and the parties earn the right to exercise a close-out of the transactions. • Contract Formation and Legal: In this section the legal compliance through the agreement for the parties and their representations are laid out. • Disputes: Information about managing disagreements between the parties and how they could be potentially settled. • Payments and Deliveries: This section enforces the economic obligations of the transaction, laid out in the Confirmation of the ISDA Master Agreement. However, it includes information about possible scenarios that can impact or modify the nature and delivery of the payments. Figure 2.7: ISDA Document Components adapted from [5]. 2.4.3 Schedule and Confirmation In Figure 2.7 we have the following components • ISDA Master Agreement which is standard. • The Schedule which can be customized. 20PDF Image | NFT finance Leveraging Non-Fungible Tokens
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