A contract between two parties in an [[OTC]] trade detailing the terms and conditions of the deal. The International Swaps and Derivatives Association ([[ISDA]]) developes industry standard agreements used between counter-parties to privately negotiated [[Derivatives|derivatives]] transactions. | A contract between two parties in an [[OTC]] trade detailing the terms and conditions of the deal. The International Swaps and Derivatives Association ([[ISDA]]) developes industry standard agreements used between counter-parties to privately negotiated [[Derivatives|derivatives]] transactions. |