1 An agreement between two counterparties that mutual obligations will be settled by a single payment.
2 A method of reducing bank charges in which two related companies offset their receipts and payments with each other, usually monthly. In this way a single payment and receipt is made for the period instead of a number, which saves on both transaction costs and paperwork. See also multilateral netting.
Users without a subscription are not able to see the full content. Please,
or login to access all content.