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LSDefine

Simple English definitions for legal terms

clearinghouse

Read a random definition: penitentiary

A quick definition of clearinghouse:

A clearinghouse is a place where banks exchange checks and settle their daily balances. It's like a big club where banks go to make sure they have enough money to cover all the checks they've received. It's also a place where brokers go to clear their daily transactions on the stock and commodity exchange. Finally, it can be any place where people exchange specialized information.

A more thorough explanation:

A clearinghouse is a place where banks or other payors exchange checks and drafts and settle their daily balances. It can also refer to a stock-and-commodity exchange where brokers' daily transactions are cleared. Additionally, it can be any place for the exchange of specialized information.

  • Example 1: A group of banks in a city have formed a clearinghouse to exchange checks and drafts. Each bank sends the checks and drafts they have received to the clearinghouse, which then sorts and settles the balances between the banks.
  • Example 2: The New York Stock Exchange is a clearinghouse for brokers to trade stocks and clear their transactions.
  • Example 3: A medical research organization has created a clearinghouse for doctors to share information about rare diseases and treatments.

These examples illustrate how a clearinghouse can be used in different contexts to facilitate the exchange and settlement of information or transactions between parties.

clearing agreement | clearing loan

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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