This practice note examines the reasons why parties involved in a construction project may enter into a trust agreement (or receivership agreement) for the creation of a trust account. It examines the benefits of payments in trust funds, the operation of a trust account and the provisions that are usually included in a trust fund (b) guarantee the right to terminate all transactions under the agreement in the event of default and to conclude them in a timely manner, including insolvency or bankruptcy proceedings or proceedings similar to that of counterparty; This general note is governed by both types of contractual compensation agreement and on: The derivatives market in Italy is governed, as usual, by ISDA Master Agreement (and confirmations under such a master`s agreement, the “ISDA agreement”) and by the GMRA Master Agreement (the GMRA agreement). A use agreement where the parties can enter into transactions in which a party (a “seller”) agrees to transfer securities or other assets against the transfer of funds by the buyer to the other (a “buyer”), with the buyer`s agreement to transfer those securities to the seller on a date or on demand against the transfer of funds by the seller. The same circular provides for the GMRA and ISDA mentioned above as special conditions of effectiveness in Italy, as master-agreements: Subject to the checks and investigations above, in the absence of a clear and explicit choice of law and jurisdiction in the contract (ISDA and GMRA), the right of the place where the investor (if Italian) is active (Italian law). In addition, the Italian court will have jurisdiction under Italian private international law and the Brussels conventional jurisdiction regime (i.e. the Brussels I regulation, which applies to both ISDA and gmRA conventions). In any event, the parties could choose another law and jurisdiction, subject to the provisions of the 1980 Rome Convention (now absorbed by EU Regulation N. 593/2008 of 17 June 2008). – For management agents based in Italy, CONSOB may ask organisers, issuers and operators to provide data, information and documents, if and when derivatives trading is organised for the public, through a network of branches. This is stipulated in Articles 78 and 79 of the TUF, Decree-Law No. 58/1998, for the SSO trading system (“sistema di scambi organizzati”).