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Definition of: clearing
(klir′ing) noun
1. A making or becoming clear.
2. That which is clear or cleared; a tract of land cleared of trees, underbrush, etc.
3. The settlement of balances between banks arising from the interchange of checks, drafts, etc., carried on at a clearing–house.
4. plural The total of checks, drafts, etc., presented daily at a clearing–house.
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