Set-off and netting

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Practice notes
The majority of secondary debt trades are conducted by telephone or by email. Following the trade call or email exchange, the parties will document...
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9th Nov
Practice notes
Summary of advantages and disadvantages of the floating chargeThis Practice Note discusses the advantages and disadvantages of taking a floating as...
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9th Nov
Practice notes
Given the cross-border nature of many banking transactions, it is common for the principal legal advisors for lenders and borrowers to need to...
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9th Nov
Practice notes
A 10b-5 letter (also referred to as a 'disclosure letter') is a letter delivered to the underwriters by issuer's and underwriters' counsel in...
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Produced in partnership with Charles Farnsworth of Baker McKenzie and Adam Farlow of Baker McKenzie 12th Jan
Practice notes
What are they?A bridge to bond facility is a type of acquisition financing where the buyer requires the certainty of a fully committed financing...
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Produced in partnership with Cleary Gottlieb and Ian Chin of Morrison & Foerster 12th Jan
Practice notes
Assignment is a means by which a lender can transfer its interest in a loan to another lender.For an overview of the reasons why a lender might...
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9th Nov
Practice notes
Coronavirus (COVID-19): The ICC has issued a guidance paper on the impact of COVID-19 on trade finance transactions issued subject to ICC rules. For...
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9th Nov
Practice notes
The key feature of a floating charge is that, until it crystallises, the chargor is entitled to deal with the charged assets in the normal course of...
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9th Nov
Practice notes
On an acquisition finance transaction, the borrowing group, in addition to the debt (whether loans or bonds) required to fund the transaction, will...
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9th Nov
Practice notes
This Practice Note explains the features of three common types of loan facility:•overdrafts•term loans, and•revolving credit facilities (RCFs)It also...
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9th Nov
Practice notes
The vast majority of derivative transactions are documented by standard documentation developed and published by the International Swaps and...
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9th Nov
Practice notes
What are incremental facilities?An incremental facility is feature included in a credit agreement where, subject to meeting certain pre-agreed...
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Produced in partnership with Osborne Clarke 12th Jan
Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[Insert name of Chargor], a company incorporated in England and Wales with...
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9th Nov
Practice notes
This Practice Note provides an introduction to intercreditor agreements and their key provisions. This Practice Note:•explains the purpose of having...
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9th Nov
Practice notes
This Practice Note explains certain common financial covenants used in commercial finance transactions including:•minimum net worth test•gearing...
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9th Nov
Practice notes
This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge...
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9th Nov

Most recent Set-off and netting content

Practice notes
Contractual set-off is one of the five main types of set-off described in Practice Note: Types of set-off.Contractual set-off arises where a right of...
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14th Apr
Practice notes
For information on set-off in general, see Practice Note: What is set-off and when is it available?When is set-off relevant to finance...
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8th Apr
Practice notes
This Practice Note sets out certain key cases and associated relevant content in relation to set-off. The cases are divided by topic area and...
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8th Apr
Practice notes
Although it commonly arises in the context of disputes, and therefore litigation, set-off is essentially a matter of substantive law.This Practice...
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8th Apr
Q&As
This Q&A discusses the rights of a lender to set off a sum that the lender owes to a borrower (eg a credit balance on a deposit account) against an...
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Produced in partnership with Brian Cain 8th Apr
Practice notes
NettingNetting is a contractual arrangement between two parties. Essentially, it means that the parties have agreed that, when they transact with each...
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23rd Mar
Practice notes
In finance transactions, the terms 'netting' and 'set-off' are sometimes used interchangeably even though they are not the same thing. The confusion...
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19th Mar
Practice notes
IntroductionSet-off refers to claims that may be set-off against other claims. A set-off is the right of one party, Party A, who is owed money by...
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Produced in partnership with South Square Chambers and BDO 19th Mar
Practice notes
Set-off is a complex yet important concept in legal proceedings generally and for many different types of transaction.Independent set-off and...
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15th Mar
Practice notes
There are five main types of set-off:•independent set-off (sometimes known as legal set-off or statutory set-off)•transaction set-off (also known as...
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11th Mar
Precedents
This Deed is made on [insert day and month] 20[insert year]Parties1[insert name of Company], a company incorporated in England and Wales with...
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16th Feb
Q&As
Do the normal set-off rules apply to an LLP in administration?The Limited Liability Partnerships Act 2000 (LLPA 2000) introduced limited liability...
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15th Feb
Q&As
Parties’ rights are often defined, restricted or excluded by a specific contractual clauses agreed between the parties at the outset of their...
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Produced in partnership with Thomas Samuels of Gough Square Chambers 8th Jan
Q&As
The banker’s right of set-off refers to the right of a bank to combine two or more of a customer’s accounts held with that bank, where one account has...
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Produced in partnership with Richard Hanke of 3 Verulam Buildings (3VB) 8th Jan
Q&As
Equitable set-offEquitable set-off arises when two claims are so closely connected that it would be unjust to allow one party to enforce its claim...
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28th Nov
Precedents
1 Set-off permitted by either party Each party may set off any amount that the other party owes it under this agreement[ or...
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26th Sep

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