Vocab Bloom Hub

right of offset

/raɪt əv ˈɒfset/

1 entry

phrase

/raɪt əv ˈɒfset/C1formallegal
  • ruЮридическое право, позволяющее стороне зачесть или вычесть деньги, которые ей должны, из денег, которые она должна другой стороне, часто используемое в финансовых или договорных контекстах для урегулирования взаимных долгов.

A legal right allowing a party to set off or deduct money owed to them from money they owe to another party, often used in financial or contractual contexts to settle mutual debts.

  1. Legal right to balance debtsC1formal

    A legal right that allows a lender or creditor to seize funds from a debtor's account to settle an outstanding debt.

    ruПраво на зачет взаимных требований

    • The bank exercised its right of offset to recover the loan payment.
    • Under the contract, the company has a right of offset against any unpaid invoices.
    • The right of offset was invoked when the customer defaulted on their credit card balance.