FOREIGN OFFSET Clause Samples
The FOREIGN OFFSET clause allows for the adjustment of amounts owed or payable under a contract by accounting for obligations or credits that arise in foreign jurisdictions. In practice, this means that if a party has a claim or liability in another country related to the same transaction or relationship, those amounts can be offset against what is owed under the main contract. This clause helps streamline settlements across borders and reduces the risk of double payment or uncollected debts by ensuring that all related financial obligations are considered together, regardless of their origin.
FOREIGN OFFSET. This Contract has been awarded with the cognizance of General Dynamics Corporation Industrial Participation Programs, all offset credits resulting from this Contract are the sole property of General Dynamics Corporation to be applied to the offset program of its choice. ▇▇▇▇▇▇ agrees, at no cost, to assist General Dynamics Corporation in securing appropriate offset credits from the respective government authorities. Any offset credits earned resulting from these transactions must receive written consent and authorization from Buyer prior to use.
FOREIGN OFFSET. If the Contract is issued to a non-U.S. Seller and/or if the work is being performed by a non-U.S. Seller in whole or in part, all offset credits resulting from this Contract will be the sole property of Buyer. ▇▇▇▇▇▇ agrees, at no cost, to assist ▇▇▇▇▇ (or ▇▇▇▇▇’s parents or affiliates if requested) in securing appropriate offset credits from the respective government authorities.
FOREIGN OFFSET. If the Contract is issued to a non-U.S. Seller and/or if the work is being performed by a non-U.S. Seller in whole or in part, all offset credits resulting from this Contract will be the sole property of Buyer. ▇▇▇▇▇▇ agrees, at no cost, to assist ▇▇▇▇▇ (or ▇▇▇▇▇’s parents or affiliates if requested) in securing appropriate offset credits from the respective government authorities. If requested, Seller shall provide information to Buyer related to the Canadian Content Value of the Contract.
FOREIGN OFFSET. This PO, if issued to a non-U.S./foreign Seller and/or if being performed by a non U.S./foreign Seller in whole or in part, has been awarded with the cognizance of General Dynamics Corporation Industrial Participation Programs. All Offset Credits resulting from this PO are the sole property of General Dynamics Corporation to be applied to the Offset Program of its choice. ▇▇▇▇▇▇ agrees, at no cost, to assist General Dynamics Corporation in securing appropriate Offset Credits from the respective government authorities.
FOREIGN OFFSET. If the Contract is issued to a non-U.S. Seller and/or if the work is being performed by a non-U.S. Seller in whole or in