n. The act or process of making clear. A tract of land cleared of wood for cultivation. A method adopted by banks and bankers for making an exchange of checks held by each against the others, and settling differences of accounts. In England, a similar method has been adopted by railroads for adjusting their accounts with each other. The gross amount of the balances adjusted in the clearing house. Clearing house, the establishment where the business of clearing is carried on. The departure of a ship from port, after complying with customs, health laws, and other local regulations.