CLEARING BANK Definition

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CLEARING BANK is a member bank of a national check clearing system.

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SISTER COMPANY is similar to the way in which a family is structured, two or more sister companies (sibling) share the same Parent Company or individual owner. Like a Subsidiary, it is a separately incorporated business.

GOING RATE is an expression that means the cost of the average of suppliers of like products or services. The connotation is that the cost will be "no more expensive than the competition."

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