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Right Of Offset Meaning In Bengali
Right Of Offset শব্দের বাংলা অর্থ কি: সঠিক অফসেট
Right Of Offset
Definition
1) The legal right of a lender to seize a debtor's funds held in a separate account to cover a delinquent loan.
2) The right of a financial institution to deduct funds from a customer's account to settle or reduce a debt owed by the customer.
3) A contractual provision allowing one party to offset or deduct amounts owed to them from amounts owed by the other party.
Examples
Right Of Offset Example in a sentence
1) The bank exercised its right of offset to cover the delinquent loan.
2) The contract includes a clause allowing for the right of offset in case of a breach.
3) The lender used the right of offset to deduct funds from the borrower's account.
4) The company invoked its right of offset to recover losses from the failed partnership.
5) The landlord may have a right of offset to cover unpaid rent.
6) The credit card issuer has the right of offset to collect outstanding balances.
7) The insurance company applied the right of offset to settle the claim.
8) The terms of the loan agreement outline the lender's right of offset.
9) The supplier retained the right of offset in case of late payments.
10) The customer's account was frozen due to the bank's exercise of the right of offset.
Synonyms
Encyclopedia
The legal right of a lender to seize a debtor's funds held in a separate account to cover a delinquent loan.
The right of a financial institution to deduct funds from a customer's account to settle or reduce a debt owed by the customer.
A contractual provision allowing one party to offset or deduct amounts owed to them from amounts owed by the other party.
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