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Bilateral Clearing Agreement

Transportation Dictionary2K Group Shipping Dictionary
A bilateral clearing agreement is a government-to-government reciprocal
trade arrangement whereby two nations agree to a trade turnover of
specified value over one or more years. The value of the products trade
under the agreement is denominated in accounting units expressed in major
currencies -- such as clearing U.S. dollars, clearing Swiss frances, etc.
Exporters in each country are paid by designated local banks in domestic
currencies.
See also: LCL , HDD , SAMSEC , VBX , Yard Track

 

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