New Agreement Provides Industry Standard for Tertiary Market Transactions
The European Life Settlement Association (ELSA) is pleased to announce the launch of the ELSA Master Agreement for Tertiary Transactions (MATT). The MATT is a standardized life settlement tertiary market agreement developed by industry experts from the investor and legal community.
Our aim was to develop and promote an industry-standard purchase and sale agreement that made tertiary transactions more cost and time efficient. In the development of this agreement the working group followed the precedent set by standardized documents, such as the ISDA master agreement document. We encourage life settlement market participants to consider using the master agreement when engaging in tertiary market transactions.
This project was spearheaded by ELSA members BroadRiver Asset Management (Andy Feldman, committee chair — now with AEF Consultants), EM3 Law (Jim Maxson), & ISC Services (Chris Conway) and ClearLife (Mark Venn). The European Life Settlement Association would like to thank these organizations and individuals for their significant contribution throughout the development of this project. This has been an excellent example of industry cooperation in the development of a standardized agreements to reduce transaction friction costs and encourage more tertiary market activity. We look forward to an ongoing dialogue with industry participants and the regular further development of this agreement.
The ELSA Master Agreement For Tertiary Transactions (MATT) is the property of the European Life Settlement Association (ELSA). The ELSA MATT is made available as a fillable PDF and may be altered only to insert the names of the parties and their notice details. The Confirmation for specific transactions, which is also used to customise the ELSA MATT, is separately made available as an MS Word document as is the Form of Entitlement Order. You may download, copy and utilize the ELSA MATT and the Confirmation and Entitlement Order for tertiary life settlements transactions.
The provisions of the ELSA MATT (and the ELSA MATT itself) do not constitute legal advice or opinions of any kind, or any advertising or solicitation. No lawyer-client, advisory, fiduciary or other relationship is created between ELSA and any person accessing or otherwise using the MATT.
You should consult with your legal advisors and any other advisors you deem appropriate prior to using the ELSA MATT. ELSA and its members, directors, officers, employees and agents assume no responsibility for any use to which the ELSA MATT and any definition or provision contained therein may be put, nor any liability for damages, losses or causes of action of any nature that might arise from any use of the ELSA MATT.