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imported>Doug Williamson |
imported>Doug Williamson |
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| (CH).
| | An agent that guarantees to his principal, for an additional commission, that third parties involved in the transaction will pay on the due date and, if they fail to do so, that the del credere agent himself will pay the debt due. |
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| ''Funds transfer''.
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| A formal or informal association of financial or other institutions that facilitates the exchange of items drawn on participants.
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| This exists via a central location or central processing mechanism through which financial institutions agree to exchange payment instructions or other financial obligations (for example securities).
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| The institutions settle for items exchanged at a designated time based on the rules and procedures of the clearing house.
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| In some cases, the clearing house may assume significant counterparty, financial or risk management responsibilities for the clearing system.
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| == See also == | | == See also == |
| * [[Central counterparty]] | | * [[Agency]] |
| * [[Clearing House Interbank Payment System]] | | * [[Agent]] |
| * [[Clearing system]]
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| * [[LME Clear]]
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| * [[Central counterparty]]
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| [[Category:Cash_management]] | | [[Category:Accounting,_tax_and_regulation]] |
| | [[Category:The_business_context]] |
Latest revision as of 17:56, 29 June 2022
An agent that guarantees to his principal, for an additional commission, that third parties involved in the transaction will pay on the due date and, if they fail to do so, that the del credere agent himself will pay the debt due.
See also
