Definitions from the Web
Term: Offsetting Obligations
Description:
Offsetting obligations refers to the act of counterbalancing or compensating for certain requirements, debts, or responsibilities. It involves the process of balancing one obligation against another in order to nullify or reduce their impact on each other.
Sample Sentences:
- John decided to offset his credit card debt by using his savings.
- The company managed to offset its financial losses by increasing its sales.
- As part of the negotiation, the parties agreed to offset their respective obligations to avoid any financial burden.
- The government introduced a new policy to enable taxpayers to offset their charitable contributions.
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