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