International financial services association BAFT (the Bankers Association for Finance & Trade), together with ITFA (the International Trade and Forfaiting Association) have published an updated New York law Master Participation Agreement (NY MPA) and associated guidelines. BAFT, together with ITFA, put together a working group of experts to review the existing form and identify changes based on current market practice.

By Amanda Montano, Sullivan Associate and Fiona Luong, Sullivan Trainee

Having been instructed by BAFT to prepare the revised Master Participation Agreement, Sullivan’s London Trade Finance team gave a presentation on ‘All you need to know about the BAFT MPA’ at the firm’s September Seminar.

Attended by an audience of more than 100 financial institutions and participants in the trade finance market, Geoff Wynne and Hannah Fearn talked about the key changes and implications of the new MPA.

by Hannah Fearn, Sullivan Managing Associate and Fiona Luong, Sullivan Trainee

BAFT (the Bankers Association for Finance & Trade), together with ITFA (the International Trade and Forfaiting Association), established a working group to review and identify amendments to the original 2008 English law Master Participation Agreement (2008 MPA), to bring it in line with current market practice.