Definicija: distinction between netting and set-off is more a technical one than a practical one. It is that: set-off acknowledges the existence of cross-claims between the parties but effects a discharge of them to the extent that the amounts are equivalent, whereas netting involves just one monetary claim (notional cross-claim) being owed by one party to the transaction to the other at any point in time
Vir definicije: Set-off and netting—overview, Lexis PSL