Barter Smartplace As a Clearing Center

Expanding your understanding of Barter: Barter Smartplace as a clearinghouse🌎

What is clearing?

The clearing is regular non-cash payments for goods and services between legal entities and individuals. In the clearing, claims and obligations are offset instead of cash payments.

This practice is usually applied in international trade between enterprises. In another way, such transactions are also called compensatory.

The clearing is also used in banking in a cyclical manner, and banks often use clearing centers to perform these functions. In this case, clearing is a form of non-cash bilateral or multilateral settlements in the payment system.

Clearing, in very simple terms, is the same exchange as barter. And a clearing center is a company that offers clearing services and opportunities. A synonym for the phrase clearing center is a clearinghouse.

Barter Smartplace performs all the main functions of clearinghouses, namely:

🔸 collection of information on transactions concluded on the exchange, its reconciliation and correction in case of discrepancies;

🔸 accounting for transactions registered on the exchange and carrying out calculations on them;

🔸 determination of mutual obligations between the parties who concluded transactions on the exchange, and settlements between them;

🔸 ensuring the movement of securities between partners and organizing cash settlements (a receipt of a token transfer);

🔸 providing guarantees for the fulfillment of established obligations.

Acting as a clearinghouse, Barter Smartplace acts as the organizer and execution of trades.

What is the advantage of the blockchain clearing format?

🔹 Barter Smartplace helps you define mutual obligations between partners faster and better. The platform takes into account their mutual requirements and obligations.

The following types of clearing exist:

🔻 Bank clearing. This is a system of interbank non-cash settlements carried out through clearinghouses and based on the mutual offset of equal payments to each other.

🔻Currency clearing. Helps to establish the procedure for conducting international settlements between countries.

These calculations are based on mutual accounting of payments for goods and services that have equal value, calculated in the so-called clearing currency at agreed prices.

🔻 Simple and multilateral clearing — defines the obligations of each clearing member and settlement of securities and funds for each transaction in the clearing pool.

🔻 Commodity clearing carries out non-cash settlements between partners for equivalent tokens, documents, goods, or services rendered transferred to each other, carried out through mutual accounting.

Barter Smartplace implements all types of clearing for digital and real assets in action, learn more at https://barter.company/! 🚀

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