English to Ukrainian Bus/Financial Finance (general) General Terms and Conditions of Contract

UNICEF will have the ***right to set off***, against any amount or amounts due and payable by UNICEF to the Contractor under the Contract, any payment, indebtedness or other claim (including, without limitation, any overpayment made by UNICEF to the Contractor) owing by the Contractor to UNICEF under the Contract or under any other contract or agreement between the Parties. UNICEF will not be required to give the Contractor prior notice before exercising this ***right of set-off*** (such notice being waived by the Contractor). UNICEF will promptly notify the Contractor after it has exercised such ***right of set-off***, explaining the reasons for such set-off, provided, however, that the failure to give such notification will not affect the validity of such set-off.

TIA!