Third party release letter
Independent practitioner’s assurance report to the directors of ICE Benchmark Administration Limited (the ‘Company’) in respect of the Company’s compliance with benchmark methodologies and statement of compliance with EU Benchmarks Regulation (‘BMR’) for the period 1 December 2018 to 30 November 2019
Ernst & Young LLP (‘EY’) have been requested by the Company to provide you, the recipient company, firm or organisation (‘Recipient’), with a copy of the report we prepared, on their instructions, on the Company’s report on adherence to its stated methodology and compliance with EU Benchmarks Regulation (‘BMR’) with respect to its administration of ICE LIBOR, ICE Swap Rate, the LBMA Gold Price and the LBMA Silver Price (the ‘Report’).
The Report was prepared solely for the use of the Company and addressed issues specific to them. Accordingly, we may not have addressed issues of relevance to you. Further, the Report was concluded on 7 April 2020, and we have not undertaken any further work since that time. Material events may therefore have occurred which will not be reflected in the Report.
Whilst we are prepared to provide a copy of the Report to the Recipients, it is only on the basis that the Recipients acknowledge and agree that:
This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.
Each party irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.
For the purposes of this agreement “EY Persons” shall mean Ernst & Young LLP, any other member of the global network of Ernst & Young firms and any of their respective subcontractors, members, shareholders, directors, officers, partners, principals or employees (including but not limited to employees of Ernst & Young Services Limited). “EY Person” shall be construed accordingly.
If you wish to access the Report you should confirm your acceptance of and agreement to the terms of this agreement by clicking on the “I AGREE” button below.
By clicking on the "I AGREE" button you signify that the Recipient agrees to be bound by these terms and conditions. You confirm that you are authorised to enter into this agreement on behalf of the Recipient and that once you click on the “I AGREE” button below this agreement is legally binding on, and enforceable against, the Recipient. Such acceptance and agreement shall be deemed to be as effective as a written signature provided manually by you, for and on behalf of the Recipient, and shall be deemed to satisfy any requirements of any applicable law to create a legally enforceable contract, notwithstanding that the agreement is written and accepted electronically.