Telstra 2015 Annual Report Download - page 125
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Telstra Corporation Limited and controlled entities 123
Notes to the Financial Statements (continued)
NOTE 17. CAPITAL MANAGEMENT AND FINANCIAL INSTRUMENTS (continued)
_Telstra Financial Report 2015
17.2 Financial instruments (continued)
(f) Offsetting and netting arrangements (continued)
(a) Reflects amounts subject to conditional offsetting
arrangements.
(b) Below is a description of our material rights of set-off that are
not otherwise included in column B in Tables H and I above:
• for our inter operative tariff arrangements with some of our
international roaming partners, we have executed agreements
that allow the netting of amounts payable and receivable by us
on cessation of the contract
• for our wholesale customers we have executed Customer
Relationship Agreements which allow for the netting of
amounts payable and receivable by us in certain circumstances
where there is a right to suspend the supply of services or on the
expiration or termination of the agreement
• for all our derivative financial instruments, we have executed
master netting arrangements under our International Swaps
and Derivatives Association agreements. These arrangements
allow for the netting of amounts payable and receivable by us or
the counterparty in the event of default or a credit event. In line
with contractual provisions, in the event of insolvency all
derivatives with a positive or negative fair value that exist with
the respective counterparty are offset against each other,
leaving a net receivable or liability.