Even though a large proportion of financial instruments rely on LIBOR, very few are written with an option for what happens if LIBOR is no longer available. Some contracts have fall back or default provisions embedded, but these were for the temporary unavailability of LIBOR, not for its complete cessation. Relying on these default provisions for too long can lead to unexpected and wide-spread losses.
Such a gargantuan effort requires a scalable, measured approach supported by purpose-built technologies. You need to consider solutions that deliver a secure and intelligent platform to automate updates and approvals of impacted contracts, what we call a System of Agreement platform.
Read this brief document to understand what steps you can take to leverage DocuSign’s system of agreement solution to help with this transition.