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TeachMeFinance.com - explain Clearance Clearance -- 1. The completion of governmental requirements so that a carrier may arrive in a port and unlade cargo and passengers, or may lade cargo and passengers and depart for a foreign destination. 2. The accomplishment of the customs formalities necessary to allow goods to be imported or to be exported. historic definition... Clearance -- A certificate from the proper authority that a vessel bound for a foreign port has complied with the law and has leave to sail. Tn domestic trade the mere departure of a vessel from port is called a clearance. In the grain trade a consignment of grain or flour shipped by lake or ocean is called a clearance. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.