Insolvency and/or bankruptcy proceedings do not affect clearing contracts under a clearing or financial contract (or other financial contract) that are subject to a compensation agreement. Similarly, the provisions of a compensation agreement are not affected by dene or payment restrictions imposed in connection with an insolvency or bankruptcy right. For decades, banks and other counterparties in the United Arab Emirates have received financial services from foreign financial institutions. Interprofessional organizations such as the International Swaps and Derivatives Association (ISDA), the International Capital Market Association and the International Securities Lending Association have developed standard documents for this type of transaction. A new statute in the UAE makes it clear for the first time that the netting and setoff provisions in such documentation are valid and enforceable under UAE law. This clarity should, among other things, reduce costs for THE united Arab Emirates counterparties who receive these financial services. The events of termination of the working relationship are marked for the interpretation of this unqualified agreement, in accordance with the definitions mentioned in it. ANNEXE 2 Qualifying Master Compensation Agreement: The effects of bilateral compensation agreements related to pension transactions are recognized on the basis of counterparties when agreements in a relevant jurisdiction are legally applicable in any jurisdiction in the event of default or bankruptcy, whether the counterparty is late or bankrupt. The Compensation Act currently identifies 23 categories of agreements as eligible financial contracts (which create either a right to receive or obligation to pay or transfer ownership, or transfer ownership to assets/buildings for compensation), including all types of swaps (with respect to currencies, Interest rates, base rates or commodities), futures, foreign exchange or interest rate contracts, exchange rate or interest rate options, derivatives (for bonds, energy, bandwidth, freight, issues and real estate index), securities contracts, guarantee agreements, 1 commodity contracts and all the equivalents of the above agreements.