BAFT Updates New York Law Master Participation Agreement

BAFT, ABA’s global transaction banking subsidiary, today released an updated New York law master participation agreement, which serves as the industry standard for secondary market transactions to facilitate the buying and selling of trade finance-related assets globally. BAFT and the International Trade and Forfaiting Association convened an expert working group to review existing forms and recommend changes to the MPA, which standardizes documentation for trade finance transactions and helps bank clients, government bodies and investors better understand trade finance assets.

“The revisions to the BAFT MPA continue our efforts to standardize industry documentation, facilitate better transaction efficiency and provide greater consistency,” said BAFT President and CEO Tod Burwell.