Various types of netting in financial markets including payment netting, netting by the novation and close-out netting are described in this article. The main intention is paid to the analysis of netting by close-out as a method a financial contract termination in case of commencement of insolvency procedures and the occurrence of other termination events.
The article contains analysis on the terms of the international loan agreement. The author describes common terms, terms on subject matter, responsibility for non-performance of the obligations as well as on change of the agreement. The article contains description of legal nature of the above mentioned terms supported by references to foreign literature, foreign and Russian laws as well as to court practice.