Set-off: Difference between revisions

Don’t exercise a [[set-off]] right willy nilly. Unless you are [[settlement netting]] (where on a given day I owe you a sum, you owe me a sum, and we agree to settle by one of us paying the other the difference) [[set-off]] is a drastic remedy which will be seen as enemy action. You would not do it, without agreement, to any client you expected to keep. So, generally, as a remedy it only arises following an [[event of default]]. See, for example, {{isdaprov|Set-off}} in the {{2002ma}} under Section {{isdaprov|6(f)}}. So you don’t just do it for the hell of it.