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clearinghouse
[kleer-ing-hous]
noun
plural
clearinghousesa place or institution where mutual claims and accounts are settled, as between banks.
a central institution or agency for the collection, maintenance, and distribution of materials, information, etc.
51Թ History and Origins
Origin of clearinghouse1
Example Sentences
The Transactional Records Access Clearinghouse - a project from Syracuse University that compiles immigration figures - estimates that of the 51,302 people in ICE detention facilities as of 1 June, about 44% had no criminal record aside from entering the US without permission.
The College Sports Commission will work alongside a clearinghouse called “NIL Go,” created by accounting firm Deloitte, to approve or deny any third-party NIL agreements that exceed $600.
All new third-party NIL deals must now be reported to the clearinghouse starting June 7 — the day after the settlement was approved — although the platform won’t launch online until June 11.
Contracts may need to be restructured because many — but not all — NIL deals were completed through collectives, a process that would now need to receive approval from the Deloitte clearinghouse.
Now, all new NIL deals exceeding $600 must be approved by NIL Go, a clearinghouse created by the College Sports Commission to analyze deals to ensure they serve a valid business purpose and provide fair market value.
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