Offsets
Offsets refer to the industrial compensation practices that are used in the maritime industry. These practices are used to balance the economic benefits of a particular project or contract between two countries. Offsets can take many forms, including direct investments, technology transfers, and local content requirements. In the maritime industry, offsets are often used in shipbuilding contracts, where the buyer requires the seller to invest in the local economy or transfer technology to the buyer's country as a condition of the sale. Offsets are used to promote economic development and job creation in the buyer's country, while also providing economic benefits to the seller.
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