Derivatives · glossary
Setting a sum owed under one agreement against a debt under another between the same parties. It is not netting, which works inside one agreement. Clause 6.7 allowed it, but nothing was left to set off when the swap ended. Clause 6.7 · Chapter 7 · Chapter 13
Explained in Chapter 7, Payments, Netting and the Calendar, of Derivatives.
The main page for this term is Set-off, in Civil Litigation.
Netting and set-off are different things. Netting works inside the Master Agreement. Set-off reaches debts under other contracts.Read Chapter 13, How the Loan Reads the Swap →
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