Under current law, clearing up is a process to define the obligations of the parties to each other and offset.Thus, subject only to the payment of the difference between the amount of debt of the counterparty and the value of the debt of another.
provide clearing activities may be organized as a special division of the company, and part of the firm engaged in the provision of these services.If we talk about the clearing in banking services, it is now a credit institution can serve different actors relations netting, for example, be a direct counterparty or a third party to perform the functions of the company.
key party transactions designed to offset mutual claims, the credit institution is in settlements with other banks.In the modern market relations interbank clearing it acquired great importance as exempt employees from performing unnecessary operations, which saves time and frees it for other more important things.This paperwork, timing of operations and other conditions determined by agreement of the parties.If the clearing activities are carried out by banks as an additional service, the grounds will be considered relevant contract legal entity with a credit institution.And the operation is carried out at the expense of learning and study the documentation provided by the client.
company performing the relevant services should have a license granting the right to exercise a particular activity.Only then they can help other entities in settlements with counterparties and partners, to monitor the flow of funds in their accounts, and to set off mutual obligations.Some banks consider it inappropriate to create a separate division specializing in clearing.In this case, they may use the services of a third party, in particular to offer them to their clients.
Besides clearing activity provides significant benefits to banks.The fact is that if the company is placed in a separate account funds, acts as a guarantor to meet the requirements of the parties, that if authorized credit institution has the right to use them as a credit.At the same time must comply with one prerequisite: a refund is made in due time and in full.Any violation of this rule can cause an imbalance in conducting further operations that will negatively affect the reputation of the bank.
for full operations by offsetting claims of the parties need to open a bank clearing account.Moreover, it is possible to keep money in national and foreign currency, depending on the terms of the agreement with the client.Under current law, if the public authorities have recognized the company clears, unprofitable and mired in debt, during the proceedings it is forbidden to stop the current accounts of the company.When recognition of the company bankrupt, all the resources of legal entities subject to mandatory return customers in full.
At the international level is the currency clearing, ie the agreement of two or more countries to offset the mutual obligations to each other.In this case, there is a problem of calculation and payment of the final balance, as it becomes necessary to exchange the national currency for the currency of another country.Currency Clearing considered quite convenient and common form of settlement between representatives of different countries.Here are several of its species: a conditional-free conversion of the balance or a completely non-convertible.The latter implies no possibility of payment in foreign currency, so the procedure is usually performed in the form of commodities.
