A document that specifies the terms of a swap transaction that functions as both an ISDA® Schedule and a transaction confirmation. The long-form confirmation lists the commercial terms of a transaction that would usually be found in a transaction confirmation, in addition to relationship terms that would typically be found in an ISDA Schedule, such as additional termination events (ATEs) and events of default.

Parties to a derivatives transaction may use a long-form confirmation if they wish to enter into a swap but have not executed an ISDA Master Agreement and therefore have no umbrella agreement in place that governs their trading relationship. The long-form confirmation typically states that it supplements, forms a part of, and is subject to the terms of, a standard form ISDA Master Agreement without any schedule (for terms, see Practice Note, Understanding the ISDA Master Agreement and Schedule).

This term is also used to refer to lengthy transaction confirmations that document complex bespoke transactions.