Financial Derivatives and the ISDA - the International Swaps and Derivatives Association (ISDA) publishes a wealth of information about financial derivatives, their valuations and their use. The ISDA agreement between counter parties to an arrangement lists all of the terms and conditions that each must follow - there is a legal obligation to do so . . .

go to https://www.isda.org

Look through the web site (or use their ISDA standard agreement) - notice the 30+ terms and conditions typically in use.

Select two and explain what they are and how they may protect either party. What do you think in general about the ISDA agreement ?