clearance

/ˈklɪərəns/ noun

Definition

› [U] BANKING the process by which cheques and other payments are exchanged between customers of different banks: Foreign-drawn cheques may incur additional bank charges for clearance and currency conversion.

› [U] COMMERCE official permission to come into or leave a place or country: Two more inspections by the Swiss customs clearance agency declared the cargo clean.customs/entry clearance His application was refused by the entry clearance officer.

› [C or U] official permission to do something or have particular information: security/regulatory clearance Nuclear plant workers and contractors must have a security clearance.get/be given/obtain clearance The flight was given clearance for takeoff at 5:55 pm.need/require clearance The deal will need clearance from state insurance departments where the companies do business.clearance for sth The chief executive said he hoped to receive regulatory clearance for the deal by next March.

› [C or U] COMMERCE clearance sale

on clearance › available at a lower price than usual: All laptops and printers are now on clearance.

(Definition of clearance noun from the Cambridge Business English Dictionary © Cambridge University Press)

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