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Clean collection

A letter of instructions to a presenting bank accompanied by a draft and often invoices, but not accompanied by any document restricting possession or ownership of the relevant goods. This is the opposite ofo documentary collection. A letter of instructions…

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Clean float

A system in which exchange rates are determined by market forces rather than by government intervention or restrictions. See also dirty float; floating exchange rate.

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Clean letter of credit

A letter of credit against which the beneficiary of the credit may draw a bill of exchange without presentation of documents. See letter of credit.

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