ISDA has also developed a Tahawwut Master`s Agreement in collaboration with the international Islamic financial market, with the aim of standardizing derivatives transactions in accordance with Islamic law.  ISDA was founded in 1985 as the International Swap Dealers Association and later changed its name from Swap Dealers to Swaps and Derivatives. This change was made to draw more attention to their efforts to improve broader derivatives markets and move away from pure interest rate swap contracts. The framework contract is quite long and the negotiation process can be laborious, but once a framework contract is signed, the documentation of future transactions between the parties will be reduced to a brief confirmation of the essential terms of the transaction.  The most important credit support documents subject to English law are the 1995 Credit Support Annex, the 1995 Credit Support Deed and the 2016 Margin Credit Support Schedule. Support credits ancillary to English law provide guarantees for the transfer of ownership, while English Credit Support Deed provides for the granting of a guarantee right on the transferred guarantees. The Credit Support Annex 2016 for Variation Margin was specifically introduced to enable parties to meet their Margin Variation exchange obligations in compliance with margin rules worldwide, including EMIR in Europe and Dodd-Frank in the United States of America. .