Set-off is a powerful legal and financial tool that allows parties with mutual claims to offset liabilities, reducing the need for separate payments or litigation.

This course provides a clear, practical overview of the different types of set-off rights, their legal foundations, and how they operate in commercial, banking, and insolvency contexts.

Whether you’re a legal advisor, finance professional, or contract manager, this training will equip you with the knowledge to apply set-off principles effectively, manage risk, and ensure compliance with relevant laws and contractual obligations.

This course covers:

• Understanding the concept of set-off and its role in managing mutual financial claims
• Distinguish between the five main types of set-off:
  – Independent (Legal/Statutory) Set-Off
  – Transaction (Equitable) Set-Off
  – Contractual Set-Off
  – Banker’s Set-Off
  – Insolvency Set-Off
• Learn the conditions under which each type of set-off applies, including mutuality, due dates, and legal proceedings
• Explore how contractual terms can create or modify set-off rights Understand the automatic and mandatory nature of insolvency set-off and its priority over other forms
• Apply practical examples to assess when and how set-off can be used to resolve disputes or manage liabilities
• Recognise limitations and exceptions, including restrictions on combining certain types of accounts or debts