NETTING DATE definition
NETTING DATE. Working Day on which the Clearing member determines the final amount to be paid or received for each Company participating in the Netting. Such date shall come no later than two (2) days prior to the Settlement Date. "SETTLEMENT DATE" Working day on which the net position of each Company shall be credited or debited. In the absence of another arrangement, such date shall be two (2) Working days after the Netting date. "WORKING DAY" Working day refers to a day on which the Banks of all of the countries, in which the settling by the Companies of payment orders required for the netting to occur, are open.