Business, Legal & Accounting Glossary
A clause included in many insurance agreements that allows debits to be balanced against credits. An offset clause means that only net obligations must be paid, rather than full amounts, in cases where the receiving party owes money to the paying party. The offset clause provides greater flexibility should either party be unable to pay as agreed.
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This glossary post was last updated: 16th November, 2021 | 0 Views.