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Provisions of the Bilateral Netting of Qualified Financial Contracts Act comes into force w.e.f. Oct 01, 2020

October 3, 2020
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The Government has notified Oct 01, 2020 as date on which all provisions of the Bilateral Netting of Qualified Financial Contracts Act shall come into force. The Act provides a legal framework for bilateral netting of qualified financial contracts which are over the counter derivatives contracts. Bilateral netting refers to offsetting of all claims arising from dealings between two parties, to determine a net amount payable or receivable from one party to other
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