Contra: Canada Debt .ca defines Contra

Bankruptcy Term Contra

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Canada Debt has the definition to the bankruptcy and debt term Contra. Finding answers to terms such as Contra can be difficult, especially if there is more than one definition which is why we have created a page dedicated to financial terms dealing exclusively with debt. Contra in financial terms means...

In debt and bankruptcy terms, the phrase / term 'Contra' is used as follows:

The setting off of mutual debt. For example, if a company owes $100 to another company that is owed $30 by that company in turn, the company is allowed to set off the $30 against the $100 and make a net payment of $70.