In derivatives transactions governed by International Swaps and Derivatives Association (ISDA) standard documentation, it is common for the ISDA Master Agreement to be governed by the laws of New York state, and for the Credit Support Annexe to be governed by English law.
In derivatives transactions under ISDA standard documentation, it is typical for the ISDA Master Agreement to be governed by New York state law, and for the Credit Support Annexe to be governed by English law.