Intergovernmental Clearing Agreement
From Supply Chain Management Encyclopedia
Russian: Межправительственное клиринговое соглашение
Generalized Flow Chart of Intergovernmental Clearing Agreement[1]
EXAMPLES:
Bilateral clearing accounts have been established with all states of FSU (former Soviet republics). However, it was only one intergovernmental clearing agreement in 1994; the “Roscontract” agreement with Russia which specified the intergovernmental exchange of crude oil from Russia for strategic products from Belarus, on a balanced basis. A successor agreement has been signed for 1995 as has a new clearing agreement with Uzbekistan, calling for the exchange of cotton from Uzbekistan for strategic products from Belarus, on a balanced basis[2].