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Offset, right of (definition)

Banks’ legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as right of setoff. Source: OCC

Offset, right of (definition)

Banks’ legal right to seize funds that a guarantor or debtor may have on deposit to cover a loan in default. It is also known as right of setoff. Source: OCC