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Processing and Clearing

processing

noun

  • Preparing or putting through a prescribed procedure.
    • usage: "the processing of newly arrived immigrants"; "the processing of ore to obtain minerals"

verb

  • Subject to a process or treatment, with the aim of readying for some purpose, improving, or remedying a condition.
    • usage: "process cheese"; "process hair"; "treat the water so it can be drunk"; "treat the lawn with chemicals"; "treat an oil spill"
  • Deal with in a routine way.
    • usage: "I'll handle that one"; "process a loan"; "process the applicants"
  • Perform mathematical and logical operations on (data) according to programmed instructions in order to obtain the required information.
    • usage: "The results of the elections were still being processed when he gave his acceptance speech"
  • Institute legal proceedings against; file a suit against.
    • usage: "He was warned that the district attorney would process him"; "She actioned the company for discrimination"
  • March in a procession.
    • usage: "They processed into the dining room"
  • Shape, form, or improve a material.
    • usage: "work stone into tools"; "process iron"; "work the metal"
  • Deliver a warrant or summons to someone.
    • usage: "He was processed by the sheriff"
WordNet 3.0 © 2006 by Princeton University

Processing are the steps a lender takes with your loan application to gather your information for underwriting. Processing involves building your file of information for your loan. Processing includes getting the credit report, appraisal, verification of employment, assets, etc.

(DoD) In photography, the operations necessary to produce negatives, diapositives, or prints from exposed films, plates, or paper.
(DoD) A system of operations designed to convert raw data into useful information.
Department of Defense Dictionary of Military and Associated Terms. 31 January 2011.
clearing

noun

  • A tract of land with few or no trees in the middle of a wooded area.
  • The act of freeing from suspicion.
  • The act of removing solid particles from a liquid.

verb

  • Rid of obstructions.
    • usage: "Clear your desk"
  • Make a way or path by removing objects.
    • usage: "Clear a path through the dense forest"
  • Become clear.
    • usage: "The sky cleared after the storm"
  • Grant authorization or clearance for.
    • usage: "Clear the manuscript for publication"; "The rock star never authorized this slanderous biography"
  • Remove.
    • usage: "clear the leaves from the lawn"; "Clear snow from the road"
  • Go unchallenged; be approved.
    • usage: "The bill cleared the House"
  • Be debited and credited to the proper bank accounts.
    • usage: "The check will clear within 2 business days"
  • Go away or disappear.
    • usage: "The fog cleared in the afternoon"
  • Pass by, over, or under without making contact.
    • usage: "the balloon cleared the tree tops"
  • Make free from confusion or ambiguity; make clear.
    • usage: "Could you clarify these remarks"; "Clear up the question of who is at fault"
  • Free from payment of customs duties, as of a shipment.
    • usage: "Clear the ship and let it dock"
  • Clear from impurities, blemishes, pollution, etc..
    • usage: "clear the water before it can be drunk"
  • Yield as a net profit.
    • usage: "This sale netted me $1 million"
  • Make as a net profit.
    • usage: "The company cleared $1 million"
  • Earn on some commercial or business transaction; earn as salary or wages.
    • usage: "How much do you make a month in your new job"; "She earns a lot in her new job"; "this merger brought in lots of money"; "He clears $5, 000 each month"
  • Sell.
    • usage: "We cleared a lot of the old model cars"
  • Pass an inspection or receive authorization.
    • usage: "clear customs"
  • Pronounce not guilty of criminal charges.
    • usage: "The suspect was cleared of the murder charges"
  • Settle, as of a debt.
    • usage: "clear a debt"; "solve an old debt"
  • Make clear, bright, light, or translucent.
    • usage: "The water had to be cleared through filtering"
  • Rid of instructions or data.
    • usage: "clear a memory buffer"
  • Remove (people) from a building.
    • usage: "clear the patrons from the theater after the bomb threat"
  • Remove the occupants of.
    • usage: "Clear the building"
  • Free (the throat) by making a rasping sound.
    • usage: "Clear the throat"
WordNet 3.0 © 2006 by Princeton University
Webster's Revised Unabridged Dictionary

Clearing is the process of financial guarantee between clearing members. This activity intends to eliminate the risk of contractual or transactional default. For example, two clients execute a trade through two different clearing member firms. The clients are solvent but at the end of the day one of the clearing members is not. This transaction through a clearinghouse would preserve the integrity of the trade.

Processing and Clearing in Power Thesaurus