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Rights of Set-Off
(redirected from Right of Set-Off)

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Rights of set-off
An agreement defining each party's rights should one party default on its obligation. A setoff is common in parallel loan arrangements.

Rights of Set-Off
A portion of a loan agreement stating the rights of each party should one party or the other default on his/her obligations. Rights of set-off are most often stated explicitly when two parties are lending money to each other. See also: Parallel loan.


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The amount payable may be reduced if the Bank has any contractual right of set-off against the account.
The amount payable may be reduced if the Bank has any contractual right of set-off against the account.
Apart from other inconsistencies, the laws do not provide the right of set-off to the employers against those increases.
 
 
 
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