General Contract Clauses: No Setoff (LA) | Practical Law

General Contract Clauses: No Setoff (LA) | Practical Law

A Standard Clause waiving one or both parties' setoff rights (commonly known as compensation in Louisiana) under one or more commercial transactions in Louisiana. Parties (typically, sellers or suppliers) negotiate to include this Standard Clause in the payment terms or other provisions of their commercial contract to help ensure payment. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips.

General Contract Clauses: No Setoff (LA)

Practical Law Standard Clauses w-000-1059 (Approx. 7 pages)

General Contract Clauses: No Setoff (LA)

by Practical Law Commercial Transactions, with Robert P. Thibeaux and Peter J. Segrist, Carver Darden, Koretzky, Tessier, Finn, Blossman & Areaux L.L.C.
Law stated as at 11 May 2017 • Louisiana
A Standard Clause waiving one or both parties' setoff rights (commonly known as compensation in Louisiana) under one or more commercial transactions in Louisiana. Parties (typically, sellers or suppliers) negotiate to include this Standard Clause in the payment terms or other provisions of their commercial contract to help ensure payment. This Standard Clause has integrated notes with important explanations and drafting and negotiating tips.