(1) Where parties to the qualified financial contract enter into a netting agreement, the net amount payable under the close-out netting shall be determined in accordance with the terms of the netting agreement entered into by the parties.
(2) In the absence of the netting agreement, where the parties to a qualified financial contract fail to agree on the sum with regard to the net amount payable under the close-out netting, such sum shall be determined through arbitration.
(2) In the absence of the netting agreement, where the parties to a qualified financial contract fail to agree on the sum with regard to the net amount payable under the close-out netting, such sum shall be determined through arbitration.
आगे पढ़ें / Continue reading
Explore the next section or browse this act in the selected language.
Next · Section 8Limitations on powers of administration practitioner. →All sections / सभी धाराएँThe Bilateral Netting of Qualified Financial Contracts Act, 2020 →
More sections of this act
Section 1 · Short title and commencement.Section 2 · Definitions.Section 3 · Applicability of Act.Section 4 · Powers of authority.Section 5 · Enforceability of netting.Section 6 · Invocation of close-out netting.Section 8 · Limitations on powers of administration practitioner.Section 9 · Power to amend Schedules.India Code, Government of India. Text fetched 16 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.