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Clearing house (1)
CLEARING HOUSE (1)

Definition: A central office that banks use in order to pay each other money and exchange cheques, etc.
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* All ten elements, at the least, should be in.


1. Purposeful and necessary (see definition).

2. Participating banks are duly registered.

3. All banks in a zone must be represented.

4. Representatives at the sessions must be authorized appropriately by the respective banks' official(s).

5. House rules must be complied with by all participants:
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a. All instruments that are presented and enter house must pass through complete sessions.

b. No introduction of a new instrument after commencement of a session.

c.

d.

e.

f.
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See perfect BUSINESS SCHOOL.


6. Must have an arbiter (= superintendent/supervisor).

7. All instruments must be verified to be accurate before they leave the house. (Connect to #8.)

8. Bank's net position must be made available to each bank's representative at the end of each day's session(s).

9. House meets each and every working day! (To emphasize.)

10. House serves purpose(s), exactly as desired.
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See perfect MERCHANT BANK.




* With contributions from Mr. Samson Shado.

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