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LSDefine

Simple English definitions for legal terms

clearinghouse

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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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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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