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IECA Announces the General Agreement for Use with Letters of Credit

IECA Announces the General Agreement for Use with Letters of Credit

Template and Reference Terms for Use of Letters of Credit with Margining Agreements and Adequate Assurance Clauses

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IECA CLEG News Flash: Lehman Decision on Cross-EntitySet-Off Under ISDA

Judge Peck ruled that "Contractual provisions that purport to create synthetic mutuality are not a substitute for the real thing. So-called triangular setoff that lacks mutuality, therefore, is not authorized under the Bankruptcy Code . . ." With respect to the safe harbor angle, the court wrote,

Read the Ruling


Global Association of Risk Professionals and International Energy Credit Association announce continuing education partnership

New York, London, Beijing, Sept. 15, 2011 -- The Global Association of Risk Professionals (GARP, www.garp.org) and the International Energy Credit Association (IECA, www.ieca.net) announced the launch of a new continuing education partnership, the first of its kind available for energy risk professionals.

GARP’s Energy Risk Professional (ERP®) certification is the first and only global certification for energy risk managers. Launched earlier this year, the mandatory Continuing Professional Education (CPE) program helps Certified ERPs maintain the highest level of professional integrity and competency in risk management.

The collaboration between the IECA and GARP will enable Certified ERPs to meet continuing certification requirements through participation in conferences, seminars and other programs offered by the IECA, starting with the IECA’s 87th Annual Conference, October 9-12, 2011 at the J.W. Marriott Resort in Summerlin, Nevada.

Richard Apostolik, GARP President and CEO noted that “GARP is committed to providing Certified Energy Risk Professionals the opportunity to obtain the latest knowledge and education to ensure the ongoing integrity of their certification.” That sentiment was echoed by Gregory Cortez, President of the IECA who commented, “With an ever-changing energy market, the IECA is dedicated to providing credit and financial management professionals with the latest energy industry developments.”

The IECA has registered their full calendar of conferences and industry specific seminars with GARP for continuing education credits. Through its conferences, webinars, events, publications and website, the IECA is a conduit to enhancing industry specific knowledge and increasing recognition of the global energy credit community.

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