In the engine room

The standard terms in a financial agreement contract are known as the “boilerplate”. They are the clauses – such as grossing up if there is a tax charge, or reasons for treating the contract as terminated – which protect one or other party and are so widely accepted that they are generally only lightly negotiated, if at all.

However, there are clauses in the boilerplate which can be confusing because they interlock. These cover choice of law, submission to the courts of a particular jurisdiction, and enforcement of judgements.