Final Clearance المخالصة النهائية
Definition
A mutual acknowledgement that all dues are settled and no claims remain between the parties after the final account is closed, on which the bank guarantees are released.
Example
The clearance was signed after the final claim was paid and the retention returned.
Where it is used
Closing the contractual relationship for good.
Related terms
From the term to the work
Etimadco turns these concepts into daily working tools for your projects.
Start free