Template:Nutshell GMSLA 11.8: Difference between revisions
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:{{gmslaprov|11.8}} '''{{gmslaprov|Set-off}}''' Any amount payable to one {{gmslaprov|Party}} by the other under {{gmslaprov|11.2(b)}} may, at the {{gmslaprov|Non Defaulting Party}}’s option, be [[set off]] against any amount payable the other way round under any other agreement or instrument between the parties. | :{{gmslaprov|11.8}} '''{{gmslaprov|Set-off}}''' Any amount payable to one {{gmslaprov|Party}} by the other under {{gmslaprov|11.2(b)}} may, at the {{gmslaprov|Non Defaulting Party}}’s option, be [[set off]] against any amount payable the other way round under any other agreement or instrument between the parties. A {{gmslaprov|Non Defaulting Party}} may estimate any [[unascertained obligation]] but must account for any difference once finally ascertained. This paragraph does not create a [[security interest]], or prejudice any other rights either party may have. <br> | ||