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1. Parties: Identifies the lender and borrower, including their registration details and addresses
2. Background: Sets out the context of the agreement and the parties' intentions to enter into securities lending transactions
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Loans of Securities: Core provisions governing the lending and borrowing of securities, including loan procedures and terms
5. Collateral Requirements: Details the types, delivery, and maintenance of acceptable collateral
6. Marking to Market: Procedures for daily valuation of loaned securities and collateral
7. Income Payments and Corporate Actions: Handling of dividends, interest, and other corporate events affecting loaned securities
8. Tax and Withholding: Treatment of taxes, including withholding tax and manufactured payments
9. Events of Default: Defines events of default and their consequences
10. Set-off and Close-out: Rights and procedures for set-off and closing out transactions
11. Representations and Warranties: Standard representations and warranties from both parties
12. Covenants: Ongoing obligations of the parties
13. Indemnity and Limitation of Liability: Scope of indemnification and limitations on liability
14. Notices: Communication procedures between parties
15. Governing Law and Jurisdiction: Specifies South African law as governing law and jurisdiction for disputes
16. General Provisions: Standard boilerplate clauses including amendments, assignments, and severability
1. Agency Lending: Required when either party acts as agent for underlying principals
2. Custody Arrangements: Needed when involving third-party custodians
3. Automated Trading Systems: Required when using electronic trading platforms
4. Foreign Exchange Transactions: Needed for cross-border lending involving currency exchange
5. Specific Securities Provisions: Special terms for particular types of securities (e.g., fixed income, equities)
6. Central Counterparty Clearing: Required when transactions are cleared through a CCP
7. Buy-in Procedures: Detailed procedures for buying in securities in case of failure to deliver
8. Sanctions and Anti-Money Laundering: Enhanced compliance provisions for high-risk transactions
1. Schedule 1 - Form of Loan Confirmation: Standard form for confirming individual loan transactions
2. Schedule 2 - Eligible Securities: List and characteristics of securities eligible for lending
3. Schedule 3 - Eligible Collateral: Acceptable forms of collateral and applicable haircuts
4. Schedule 4 - Agency Terms: Detailed terms for agency lending arrangements
5. Schedule 5 - Communications Procedures: Technical specifications for notices and communications
6. Schedule 6 - Market Practice: Specific South African market practices and requirements
7. Schedule 7 - Fee Schedule: Lending fees, rebate rates, and other charges
8. Schedule 8 - Settlement Instructions: Standard settlement and payment instructions
9. Appendix A - Contact Details: List of authorized personnel and contact information
10. Appendix B - Tax Documentation: Required tax forms and declarations
Adequate Financial Resources
Affiliate
Agency Loan
Agreed Currency
Alternative Collateral
Appropriate Market
Approved Banking Day
Available Securities
Base Currency
Borrowed Securities
Borrower
Borrowing Request
Business Day
Buy-in
Cash Collateral
Close of Business
Collateral
Collateral Value
Company
Confirmation
Corporate Action
Default Market Value
Default Notice
Defaulting Party
Dividend
Equivalent Collateral
Equivalent Securities
Event of Default
Exchange
Exchange Control Regulations
Financial Markets Act
Income
Income Payment
Income Record Date
JSE
Lender
Loan
Loan Value
Loaned Securities
Margin
Margin Call
Margin Percentage
Margin Transfer
Market Value
Manufactured Payment
Master Agreement
Minimum Transfer Amount
Non-Cash Collateral
Non-Defaulting Party
Notice of Exclusive Control
Notification Time
Parties
Performance Date
Posted Collateral
Principal
Received Securities
Relevant Payment Date
Required Collateral Value
Securities
Securities Financing Transaction
Settlement Date
STRATE
Tax
Term
Termination Date
Trade Date
Transaction
Transfer
Valuation Date
Valuation Percentage
Valuation Time
Voting Rights
Interpretation
Definitions
Loans of Securities
Delivery of Securities
Collateral Requirements
Margin Maintenance
Substitution of Collateral
Income Payments
Corporate Actions
Voting Rights
Fees and Charges
Tax Provisions
Representations and Warranties
Covenants
Events of Default
Close-out and Set-off
Market Disruption
Force Majeure
Transfer and Assignment
Agency Provisions
Custody Arrangements
Settlement Procedures
Payment Netting
Indemnification
Limitation of Liability
Confidentiality
Data Protection
Regulatory Compliance
Exchange Control
Anti-Money Laundering
Notices
Amendment
Termination
Dispute Resolution
Governing Law
Jurisdiction
Severability
Entire Agreement
Counterparts
Financial Services
Banking
Investment Management
Securities Trading
Asset Management
Pension Fund Management
Insurance
Hedge Fund Management
Broker-Dealer Services
Capital Markets
Legal
Compliance
Risk Management
Securities Operations
Trading
Treasury
Settlement
Client Services
Collateral Management
Portfolio Management
Documentation
Front Office
Middle Office
Back Office
Legal Counsel
Securities Operations Manager
Compliance Officer
Risk Manager
Treasury Manager
Securities Lending Trader
Portfolio Manager
Collateral Manager
Settlement Officer
Relationship Manager
Chief Operating Officer
Head of Trading
Legal Director
Chief Risk Officer
Head of Operations
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