<p >The author considers the activities of the International Swaps and Derivatives Association in the model legislation domain based on 2018 ISDA Model Netting Act replacing the previous version of the netting act as published in 2006. ISDA is a professional organization operating in the market for derivatives (derivative financial instruments). It publishes standard master agreements that became widely spread in international commercial practice. The purpose of research is conducting the legal analysis of the most recent model law of the said association in a broader context of contractual regulation of relations arising out of contracts considered derivative financial instruments. Research tasks: determination and analysis of major categories used in the model law; description the provisions aimed at the enforceability of netting agreements; analysis of major novel provisions of the model law compared to other laws of the association Research methods: formal-legalistic method, historical method, general scientific methods (induction, deduction, analysis, synthesis). The results include the determination of the key changes of the updated model act based on the research made in the publication.