UK Accounting Glossary
A recovery of what had been lost.
A recovery of expenses; a reduction or withholding for legitimate reasons, of part or all of an owed amount; a defendant’s right to have part of the plaintiff’s claim reduced as the result of a breach of contract by same in the course of the same deal.
In the music industry, Recoupment is the common practice of claiming an advance provided to an artist back from that artist rather than from related sources.
Many record labels practice recoupment, and most new artists have little choice but to accept it since they lack the negotiating power to obtain a better contract.
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This glossary post was last updated: 28th December 2019.