Master Agreement Among Underwriters (MAAU)
An agreement setting forth the legal relationships between syndicate members and permitting the efficient execution of one standardized agreement rather than the execution of separately negotiated legal contracts each and every time a firm joins a syndicate. For use with negotiated offerings of municipal securities.
2002 Version
1997 Version
Additional Forms and Documents
Best Practices for NIIDS Testing and Implementation for Underwriters of Municipal Securities
Best practices for underwriters of municipal securities in submitting new issue underwriting information to the Depository Trust and Clearing Corporation's (DTCC) New Issue Information and Dissemination Service (NIIDS).
Clarifying Statements for Municipal Securities Underwriters
Model documents SIFMA member firms may use to clarify their role and establish issuer expectations when working with municipal issuers and conduit borrowers.
Master Selling Group Agreement
Intended for use in negotiated purchases and public offerings of municipal securities, whereby a manager and dealer wish to join together to form selling groups.
Model Bond Purchase Agreement
Intended for use in connection with governmental tax or revenue-supported securities, including fixed, variable rate, auction and credit enhanced securities. Not intended for use in connection with conduit financing transactions.
SIFMA Municipal Securities Division Seeks Comments on Revised Draft of its Model Bond Purchase Agreement for Municipal Securities - October 12, 2011
Model Joint Account Agreement
Created for the purpose of forming a joint trading account for the joint and several purchase and sale of municipal securities in the secondary market.
Municipal Secondary Market Disclosure Filings
A generic cover sheet for muni disclosure filings. Filings should be made to the Municipal Securities Rulemaking Board's (MSRB) Electronic Municipal Market Access (EMMA) website, www. emma.msrb.org.
Public Finance Issuer Advisory: Mechanical Aspects of Municipal Bond Sale Practices
Intended to advise state and local government bond issuers to review certain mechanical aspects related to their municipal bond sale procedures to ensure that local and state governments issue bonds in the most effective way possible.
Recommendations for Communicating with Beneficial Owners of Defaulted Municipals
A joint trade association release, in consultation with The Depository Trust Company (DTCC). The Joint Recommendations provide practical advice to issuers, their counsel, nominee holders, and agents of issuers on how to get notices on defaults through to beneficial owners in the era of book-entry-only bonds. They provide procedures for issuer control of the communications process and make recommendations about the format of notices, the payment of reasonable expenses by the issuer, and the provision of notices by the issuer for retransmission through the chain of nominee holders.
