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clearance

English translation: Clearing and settlement

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19:19 Jul 10, 2002
English to English translations [Non-PRO]
Bus/Financial
English term or phrase: clearance
"Cleared", "clearance" or any other form of the word as applied to a transaction means that the relevant credit has become available for use by the recipient ...".

[what does it really mean? What happens during the clearing?]
kgas
English translation:Clearing and settlement
Explanation:
clearance: an act of clearing

Clearing and settlement: the process whereby checks or other records of financial or point-of-sale transactions are moved /physically or electronically) from the point at which they were originated to the organization (bank, thrift institution or other agency) that keeps the accounts for, and expects to collect from and accounts to, the responsible payor. The settlement process completes the internal financial transactions among the (possibly) many parties involved in the clearing operation.


Quote from Dictionary of Banking Jerry M. Rosenberg

Hope this helps!
Selected response from:

Christina Clark
Denmark
Local time: 12:02
Grading comment
Thank you!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +7what happens is this...
Yuri Geifman
4 +3Available
John Guzman
4compensación
claudia bagnardi
4Clearing and settlement
Christina Clark


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
Available


Explanation:
Once something has cleared it means that whatever was being used has now become avaliable when talking about credit.

When we are talking about a transaction it also applies to it being successful. So it will also imply a positive result.

Hope this helps

John Guzman
Local time: 05:02
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 8

Peer comments on this answer (and responses from the answerer)
agree  mickymayes
2 hrs
  -> Thanks

agree  Ingrid Petit
3 hrs
  -> Thanks

agree  Michael Fitzpatrick
19 hrs
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8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
compensación


Explanation:
clearing bancario. compensación bancaria. Pagos y transferencias entre entidades bancarias. Las cámaras compensadoras fueron creadas para realizar pagos a clientes, pagos bancarios y otros tipos de liquidaciones, incluso operaciones con acciones.

(Dic. Bursátil. Puga- Oriolo)
hth


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Note added at 2002-07-10 19:29:33 (GMT)
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Sorry! It was monolingual.

claudia bagnardi
Local time: 07:02
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 12

Peer comments on this answer (and responses from the answerer)
neutral  Cilian O'Tuama: English monolingual! :-)
1 min
  -> Cilian. Haven´t you read the added note? Do so

neutral  Kim Metzger: Please answer English (mono) questions in English so others can evaluate your response. Moderator.
18 hrs
  -> It is a strange message, since I apologized for my mistake minutes after my posting. All the same, I apologize again, Kim
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10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Clearing and settlement


Explanation:
clearance: an act of clearing

Clearing and settlement: the process whereby checks or other records of financial or point-of-sale transactions are moved /physically or electronically) from the point at which they were originated to the organization (bank, thrift institution or other agency) that keeps the accounts for, and expects to collect from and accounts to, the responsible payor. The settlement process completes the internal financial transactions among the (possibly) many parties involved in the clearing operation.


Quote from Dictionary of Banking Jerry M. Rosenberg

Hope this helps!

Christina Clark
Denmark
Local time: 12:02
Native speaker of: Danish
PRO pts in pair: 9
Grading comment
Thank you!
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +7
what happens is this...


Explanation:
Someone gives you a cheque in payment for your work. You take it to the bank, and deposit it to your account. The bank will not make the funds available to you right away, but take a certain pre-set amount of time to "clear" the cheque - i.e. send it back to the issuing bank and wait until the appropriate amount of money is delivered to them. It can take anywhere from 2-3 business days to 30 days and longer, especially where international banking is involved - which is one reason why international banking is done by wire transfer (a.k.a. cable, telegraph, etc.)

Yuri Geifman
Canada
Local time: 06:02
Native speaker of: Native in RussianRussian, Native in EnglishEnglish
PRO pts in pair: 32

Peer comments on this answer (and responses from the answerer)
agree  Lesley Clayton: Nice down-to-earth explanation
39 mins
  -> Thanks :-)

agree  Paul Mably: yeah, this does it
3 hrs

agree  Antonio Camangi
11 hrs

agree  airmailrpl
13 hrs

agree  tongue tied: a much clearer explanation
15 hrs
  -> Thanks everyone!

agree  Michael Fitzpatrick: Nice!!
18 hrs

agree  AhmedAMS
7 days
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