offset

(redirected from offsets)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia, Wikipedia.
Related to offsets: Carbon offsets

Offset

A contrary claim or demand that may cancel or reduce a given claim; a counterclaim. A kind of bookkeeping entry that counters the effect of a previous entry.

offset

1) n. also called a "setoff," the deduction by a debtor from a claim or demand of a debt or obligation. Such an offset is based upon a counterclaim against the party making the original claim. Example: Harry Hardhead makes a claim or files a lawsuit asking for $20,000 from Danny Debtor as the final payment in purchase of a restaurant; as part of his defense Debtor claims an offset of $10,000 for alleged funds owed by Hardhead for repairs Debtor made on property owned by Hardhead, thus reducing the claim of Hardhead to $10,000. 2) v. to counterclaim an alleged debt owed by a claimant to reduce the demand of that claimant. (See: counterclaim, defense, setoff)

offset

noun allowance, balance, compensation, counter, counteractant, counteragent, counterbalance, counterblast, counterpoise, counterweight, equalization, equivalent, hedge, impedance, neutralizer, nullifier, opposition, preventative, satisfaction, set off, substitute
See also: adeem, compensate, contra, counteract, countervail, cover, equipoise, negate, neutralize, nullify, opposition, outbalance, overreach, reaction, setoff
References in periodicals archive ?
The WA Environmental Offsets Guidelines will further improve how offsets are applied by standardising the approach across all government agencies and departments.
The WA Environmental Offsets Guidelines were prepared in collaboration with the Chamber of Minerals and Energy, the Association of Mining and Exploration Companies and the departments of Environment Regulation, Mines and Petroleum and Parks and Wildlife, he said.
The guidelines also increase transparency and predictability for developers by clarifying when an offset is needed and explicitly defining the factors that will be considered in determining the amount of offset required.
Offsets are a complex and arcane aspect of defense trade.
agree to offsets within the broader context of negotiating the sale of a
14) During these negotiations, vendors may offer offsets as an
The use of offsets began in 1961, when the United States required
present time, offsets are an integral part of negotiations in defense
Offsets are vulnerable to corruption because they distribute large
of defense offsets raises a suspicion that offset incentives contain
Defense offsets, like defense procurements as a whole, pose an
Additionally, offsets constitute a high percentage of the value of