Home > Term: clearing cycle
clearing cycle
Two to five day period during which local checks or drafts deposited by a payee bank's customer are presented for payment at the drawee bank, and the proceeds are credited to the customer's account. Also called clearance time.Read more: http://www.businessdictionary.com/definition/clearing-cycle.html#ixzz2bq0lc3Bl
- Part of Speech: noun
- Industry/Domain: Accounting
- Category: General accounting
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- anton.chausovskyy
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