Payments Netting and Set Off Clause Samples

The "Payments, Netting and Set-Off" clause governs how financial obligations between parties are settled, particularly when multiple payments are due in both directions. It typically allows parties to combine or offset amounts owed to each other, so that only the net balance is paid, rather than exchanging multiple gross payments. For example, if Party A owes Party B $100 and Party B owes Party A $80, only the $20 difference would be paid. This clause streamlines payment processes, reduces administrative burden, and minimizes credit risk by ensuring that only net amounts are exchanged.
Payments Netting and Set Off. 15.1 Your Payments Must be the Full Amount 15.1.1 When you make any payment which is subject to any withholding or deduction under this Client Agreement, you must pay us an amount that ensures that the amount actually received by us is equal to the full amount we would have received had no withholding or deduction been made. 15.1.2 All payments by you under this Agreement are to be made without any set-off by you, counter claim or condition made by you and without you making any deduction or withholding for any Tax or any other reason unless the deduction or withholding is required by applicable law or the set-off arises by express application of this Agreement. 15.1.3 Time is of the essence in respect of any payment obligation under this Agreement.‌ 15.2 Payments We Owe You and You Owe to Us are Offset 15.2.1 If on any day, the same amounts are payable under this Client Agreement in respect of the same Account by either you or us to the other in the same currency, then, on such date, each of our obligations to make payment to such amount will be automatically satisfied and discharged. 15.2.2 On the other hand, if the aggregate amount that is payable by one of us exceeds the aggregate amount that is payable by the other in the same currency, then the one who has to pay the larger amount must pay the excess to the other, and the obligations to make payment of each party will be satisfied and discharged.‌
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Payments Netting and Set Off 
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Related to Payments Netting and Set Off

  • Netting and Set-Off 23.1. If the aggregate amount payable by the Client is equal to the aggregate amount payable by the Company, then automatically the mutual obligations to make payment are set-off and cancel each other. 23.2. If the aggregate amount payable by one party exceeds the aggregate amount payable by the other party, then the party with the larger aggregate amount shall pay the excess to the other party and all obligations to make payment will be automatically satisfied and discharged. 23.3. The Company has the right to combine all or any Client Accounts opened in the Client name and to consolidate the Balances in such accounts and to set-off such Balances in the event of termination of the Agreement.