SETOFF Definition

SETOFF is the discharge of a debt by setting against it a distinct claim in favor of the debtor.

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BUFFER is anything that stands between two other things. For example, an inventory buffer would be additional inventory over and above committed or planned inventory. The inventory buffer will act as an inventory reserve to ensure that sufficient inventory is available when and if required, i.e., the buffer inventory stands between committed inventory and out-of-stock status.

TRADE DRAFT is a draft addressed to a commercial enterprise.

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