Right to Offset definition

Right to Offset. Without limiting Seller’s other rights and remedies, Seller has the right to set off and/or net its obligations under the Agreement against any debts, claims or obligations owed by Buyer to Seller.

Right to Offset or “Right of Set-Off”: If you ever owe us money and it is due, we may, to the extent we have a right under the law or under an agreement with you, use the money from any of your accounts with us, including joint accounts, to pay the debt, even if withdrawing the money results in an interest penalty to you. If any joint account holder owes us money and it is due, we may use the money from the joint account to pay the debt. The use of your funds to pay a debt you or a joint account owner owes to us is referred to as our “right to offset” or “right of set-off.” Any garnishment or levy against your account is subject to our right to offset within applicable laws. Rules, Regulations, and Other Agreements: The U.S. Treasury requires financial institutions to verify their customers’ identities and obtain certifications of valid taxpayer identification or employer identification numbers. If we do not receive such a certification within 60 calendar days of account opening, we will close the account and mail the proceeds to the account holder.

Examples of Right to Offset in a sentence

• B.3.7 Right to Offset In the event DPS determines that Contractor owes money to DPS under any contract or purchase order, DPS, upon providing Contractor with written notice of its intent to offset, will have the right to withhold monies due to Contractor with respect to this Contract or with respect to any other contract or purchase order with DPS and apply such monies to the money due to DPS.

• B.3.7 Right to Offset In the event TMD determines that Contractor owes money to TMD under any contract or purchase order, TMD, upon providing Contractor with written notice of its intent to offset, will have the right to withhold monies due to Contractor with respect to this Contract or with respect to any other contract or purchase order with TMD and apply such monies to the money due to TMD.

• B.3.7 Right to Offset In the event DPS determines that Contractor owes money to DPS under any contract or purchase order, DPS, upon providing Contractor with written notice of its intent to offset, will have the right to withhold monies due to Contractor withrespect to this Contract or with respect to any other contract or purchase order with DPS and apply such monies to the money due to DPS.

• Right to Offset: The SFA shall be entitled to offset against any sums due the contractor, any expenses or costs incurred by the SFA or damages assessed by the SFA concerning the contractor’s nonconforming performance or failure to perform the Contract, including expenses, costs and damages described in the Uniform General Terms and Conditions.

• G.4.4 Right to Offset In the event the Department determines that the Contractor owes money to the Department under any contract or purchase order, the Department, upon providing the Contractor with written notice of its intent to offset, shall have the right to withhold monies due to the Contractor with respect to this Contract or purchase order or with respect to any contract or purchase order with the Department and apply such monies to the money due to the Department.

• Members of the Railroad Clearinghouse (RCH) should refer to Railroad Clearinghouse Settlement Regulation 3.5 for authority and time limits concerning the Right to Offset.

• Right to Offset: TNG wholesale distribution centers are entitled to offset credits due us for returned amounts against amounts otherwise due to the Suppliers.

• Right to Offset Damages or Distributions The Panel granted the request that any damages awarded to one party can be an offset to distributions (or damages) due to the other party.

• Buyer and Seller agree that due to the price fluctuations inherent in this industry, three (3) business days shall constitute commercially reasonable notice of Seller’s intention to re-sell, and exercise its rights pursuant to Section 12 (Right to Offset) above.

• G.3.7 Right to Offset In the event the Department determines that the Contractor owes money to the Department under any contract or purchase order, the Department, upon providing the Contractor with written notice of its intent to offset, will have the right to withhold monies due to the Contractor with respect to this Contract or with respect to any other contract or purchase order with the Department and apply such monies to the money due to the Department.G.3.8 Annual Financial Rating A.