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offset (setoff)

Offset (setoff) is the reduction of the amount owed by one party to a second party by crediting the first party with amounts owed it by the second party.

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offset (setoff)

Offset (setoff) is the reduction of the amount owed by one party to a second party by crediting the first party with amounts owed it by the second party.

Additional Information


The existence and scope of offset rights may be determined by reinsurance contract language as well as statutory, regulatory, and judicial law.