Estimated Clearance Clause Samples
The Estimated Clearance clause defines the anticipated timeframe or conditions under which goods, shipments, or transactions are expected to be cleared, such as through customs or regulatory review. In practice, this clause sets out an estimated date or period for clearance, often based on standard processing times or prior experience, and may specify that these estimates are not guarantees. Its core function is to manage expectations and provide guidance to parties regarding timelines, helping to avoid disputes or misunderstandings related to delays in the clearance process.
Estimated Clearance. For all transactions where the State pays out its funds for a program prior to receiving Federal funds, the State shall compare the daily clearance pattern, as specified in Exhibit II, to the date Federal funds are credited to a State Account. The Federal interest liability shall be based on the difference in whole days between the estimated clearance of State funds and the actual deposit of Federal funds. With Federal-State matching programs, interest shall be calculated on the Federal percentage of the disbursement.
Estimated Clearance. Under this funding technique, the State will request federal funds such that they are deposited in a State account in accordance with the clearance pattern specified for the federal program. The State will incur no interest liability with this technique. Below is a summary of programs which are listed as following the estimated clearance technique in the 2019 TSA: 93.659 Adoption Assistance -- Benefits Department of Job and Family Services GRF 93.767 State Children's Health Insurance Program - Administrative Costs and Provider Payments by warrant Department of Medicaid GRF 93.778 Medical Assistance Program -- Administrative Costs and Provider Payments by warrant Department of Medicaid GRF