Amount of Time Off. To qualify for time off through FMLA, employees must be employed for at least 12 months and have worked a minimum of 1,250 hours. The 12 month period does not have to be consecutive, but does need to take place within a seven year period.
A clearing house is a financial institution that provides clearing and settlement services for financial and commodities derivatives and securities transactions. These transactions may be executed on a futures exchange or securities exchange, as well as off-exchange in the over-the-counter (OTC) market.
DEFINITION of 'Clearing Corporation'. An organization associated with an exchange to handle the confirmation, settlement and delivery of transactions, fulfilling the main obligation of ensuring transactions are made in a prompt and efficient manner. They are also referred to as clearing firms or clearing houses.