83,046
edits
Template:Nutshell GMSLA 11.8: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{gmslaprov|11.8}} '''{{gmslaprov|Set-off}} ''' Any amount payable to one 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. <br> | ||
:If an obligation is unascertained, the {{gmslaprov|Non Defaulting Party}} may estimate it but must account to the other [[Party]] once it is ascertained. <br> | |||
If an obligation is unascertained, the {{gmslaprov|Non Defaulting Party}} estimate it but must account to the other Party | :This paragraph does not create a [[security interest]], or prejudice any other rights either party may have. < br> | ||
This paragraph does not create a security interest, | |||