Set-Off Agreement

This Set-Off Agreement is between two parties who are indebted to each other and agree to set-off the full amount of one party's indebtedness. This agreement sets out the names and addresses of both parties, the amounts and dates of any agreements between the parties and the parties desire to set-off the indebtedness. It is imperative that this agreement be clearly set out in writing. A written Set-Off Agreement will prove invaluable in the event there are disagreements or misunderstandings surrounding the transaction. (continued ...)