Contractual framework

The iSHARE Trust Framework is underpinned by legal agreements to which all participants (both Adhering Parties and Certified Parties) need to adhere:

• Legal Provisions

• Legal Agreements & Terms of Use

Part of the Terms of Use are the service level agreements with which adhering and certifiied parties should comply:

• Service levels

• Service levels for Adhering Parties

• Service levels for Certified Parties/Satellite

The service levels for Satellites or Data space authorities are monitored by the Foundation as the Scheme Owner. For each data space, the members can define service levels more firm or specific but not conflicting with ones defined by the Framework. A service level requirement for 95% availability can be set to 99% if it is more applicable for the data space but not be reduced to 80%.

DSSC Description

The Contractual Framework building block describes the legally enforceable agreements binding data space participants as well as transaction participants. It consists of two categories of agreements: data space agreements and data transaction agreements. The defining factor is whether the event that makes these agreements binding and who is bound by these agreement. In data space agreements, they become binding once you join a data space and bind all the data space participants; data transaction agreements, on the other hand, become binding once a data space participant takes part to a data transaction and they are binding only for the data transaction participants. The data space agreements constitute the data space, implement the governance framework and regulatory compliance, and adds common elements (standardised clauses and licenses). Data space agreements define the commitments by the data space participants, and may have the function to reduce transaction costs, complexity and increase legal interoperability. The data transaction agreements currently include the data product contracts and reflect the terms and conditions that each data provider can set for the dataset it makes available (for example, as a data product), enhancing data sovereignty.

The complete description is available here.