Reducing transfers of funds between subsidiaries ( subsidiary) or separate companies to a net amount. Bloomberg Financial Dictionary
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Traders approved for duty deferment must also be approved to set off drawback and certain other repayments of excise duty against the duty due from them under the deferment arrangements. This set-off procedure is known as netting. HM Customs & Revenue Glossary
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An agreed offsetting of positions or obligations between counterparties. The netting reduces a large number of individual positions or obligations to a smaller number of obligations or positions. Netting may take several forms. Euroclear Clearing and Settlement glossary
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A system whereby outstanding financial contracts can be settled at a net figure. Receivables are offset against payables to reduce the credit exposure to a counterparty and to minimize settlement risk.
Financial and business terms. 2012.