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From a practical angle. Say I downloaded some Open Source SW which is dually licensed, e.g. by AGPL and European Union Public license. Now I want to include it into my project. What steps should I make to establish that of 2 licenses I choose to comply with, say, AGPL? Is it necessary to make such choice and declaration?

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Is it necessary to make such choice and declaration?

No, it is not needed to make an explicit choice and declaration on which license you choose to follow. It is even possible to use the library in a way that is compliant with all the applicable licenses and allow your users to choose.

Nearly all licenses require that you inform your users about the license under which you received the third-party code. If the software is dual-/multi-licensed and you choose not to follow some of those licenses, then you choose to receive the software only under those licenses. You communicate only the licenses you comply with to your users and you don't mention the licenses that you chose to ignore.

For your users, the most important information is what terms apply to the copy they received from you, not what other terms could apply if they get a separate copy directly from the upstream provider.

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I agree and share the answer by @Bart van Ingen Schenau, adding that dual licensing should be granted with licenses presenting some similarity. EUPL & AGPL fit, because they both cover remote access "distribution" and are both share-alike/reciprocal (however, with more compatibility/interoperability on the EUPL side). At the contrary, dual licensing with a strong copyleft license one side and a totally persissive license on the other side would not be the most appropriate.

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