clearing

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clearing

the process by which the cheques drawn on clearing banks are exchanged and the differences between what is due from and to each bank are settled daily by transfers between the accounts of such banks with the Bank of England.
References in periodicals archive ?
It has been alleged that the customs officials conspired with the customs house clearing agent and importers and did not examine the consignments properly after comparing the imported goods with the packing list.
Senior clearing agent Haji Jamal Afridi said that previously they had cleared number of vehicles at one time on one GD, loaded with export or import commodities.
The captain had revealed to Indian officials that the ship, en route to Pakistan, was carrying rocket launchers, sophisticated arms and ammunition and anti-aircraft guns for the United Nations Peacekeeping Mission in Liberia, while the clearing agent had not mentioned 'military hardware' as one of the goods on board in his cargo list.
However, Elizabeth Waki Kinyanjui, a clearing agent's representative complained over the endless delays by KRA as the biggest menace that the border facility faces.
Cargoes are classified as overtime when they have stayed in the port for twenty-eight days without the importer or clearing agent coming up to clear them and take delivery.
According to the customs officials, a clearing agent had booked several cartons under the name of exporter Muhammad Ejaz for Malaysia at the cargo section of Sialkot International Airport.
They said the clearing agent filed home consumption GD NO 1350 for clearance of the said Land Cruiser and later, the vehicle was presented for examination.
A CLEARING agent has pleaded not guilty to using the identities of dozens of policemen to register phones used to detonate an explosive device.
Global Banking News-September 18, 2012--Bank of Taiwan selected as clearing agent for Taiwan dollar in China(C)2012 ENPublishing - http://www.enpublishing.co.uk
The authorities suspected foul play while examining the shipment papers that showed that both the exporter's as well as the clearing agent's names were different from the earlier parties.