For example , the ISDA 2002 master agreement utilises contingent obligations , set - off , and legal personality to reduce the liabilities of non-defaulting parties in the event of default .
Various combinations of these legal methods are used to produce various allocations of risk .
The ISDA 2002 master agreement utilises contingent obligations , set - off , and legal personality to reduce the liabilities of non-defaulting parties in the event of default .
Various combinations of these legal methods are used to produce various allocations of risk .