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Clearing

Clearing is the processing of non-cash transactions on the basis of mutually offset obligations. In general, clearing takes place between states. There are the following types of clearing: currency, banking, multilateral and simple. As for currency clearing, it is a conclusion of an agreement of cooperation between countries, during which payments between the parties for goods or services which are equal in cost. At the same time, a clearing currency is valid for the agreement and its price is agreed in advance.

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