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This arises where a customer has multiple bank accounts some of which are in debit and some in credit. It is also known as the [[combination of accounts]]. It is arguably available in any situation where one party has multiple accounts with another.
This arises where a customer has multiple bank accounts some of which are in debit and some in credit. It is also known as the [[combination of accounts]]. It is arguably available in any situation where one party has multiple accounts with another.


Discussed in some detaiul in {{cite|Fearns|Anglo-Dutch Paint and Chemical Company Limited|2010|EWHC|2366}}.
Discussed in some detail in {{cite|Fearns|Anglo-Dutch Paint and Chemical Company Limited|2010|EWHC|2366}}.


The question arises as to whether it is available across multiple currencies.
The question arises as to whether it is available across multiple currencies.


====Insolvency set-off====
====Insolvency set-off====
The mandatory rules of insolvency set-off are cannot be varied by agreement. In an insolvency, account must be taken of the mutual dealings between the creditor and the bankrupt. Sums due from one must be set off against the sums due from the other, except that sums due from the bankrupt cannot be included if when incurred the creditor had notice of:
''You can’t contract out of [[insolvency set-off]] under {{t|English law}}.''
*a resolution or petition to wind-up (if a company);
 
*an application for an administration order or of notice of intention to appoint an administrator (if a company); or
{{insolvency set-off capsule}}
*a pending bankruptcy petition (if a natural person).
 
All claims, including future, contingent and unliquidated sums, must be brought into account.
====Assignment and set-off====
====Assignment and set-off====
{{assignment and set off}}
{{assignment and set off}}


====[[Insolvency set-off]]====
{{sa}}  
{{insolvency set-off capsule}}
{{seealso}}  
*For setting off of exposures under a master agreement versus other general exposures against the counterparty, see:
*For setting off of exposures under a master agreement versus other general exposures against the counterparty, see:
**{{isdaprov|Set-off}} ({{isda}})
**{{isdaprov|Set-off}} ({{isda}})
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