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There is no clear answer to that question. However, it can be said that a "give up" is either the process of a party replacing another contractual party in a contractual relationship thus assuming all rights and obligations or it is a service that banks offer their clients for example in regard to FX transactions where client is allowed to trade with a counterparty in the name of the bank. The reason for such a structure might be that the client gets better conditions or market access. The Agreement of course then deals with the questions around mentioned issues.

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