Auction Rate Securities (ARS)

Follow the links below to view the documents in SIFMA’s Auction Rate Securities (ARS) Standard Forms and Documentation Library.

Auction Agency Agreement
Agreement between a trustee and auction agent.

Broker-Dealer Agreement
A form of a broker-dealer agreement for tax-exempt or taxable multi series bonds for a conduit issuer.

Best Practices for Broker-Dealers of Auction Rate Securities (ARS)
Prepared in order to confirm the relationship between a broker-dealer and other market participants and to articulate a set of best practices with respect to ARS transactions between the broker-dealer and other market participants.

Model Auction Procedures
Recommended procedures and definitions for auctions of ARS.

Sample Disclosure Language
Sample disclosure language for use in legal filings related to ARS.

Note to Bond Counsel
A model note to bond counsel for use with tax-exempt or taxable multi series bonds for a conduit issuer.