Nov 23, 2017 17:19
6 yrs ago
English term

\"was cleared to come on board\"

English Bus/Financial Finance (general)
In the sentence: on 13th July 2015, the Company was cleared to come on board and the collections started on 17th August 2015.

Thank you for assisting me.
Change log

Nov 23, 2017 17:34: Tony M changed "Field" from "Other" to "Bus/Financial"

Discussion

Morad Seif (asker) Nov 23, 2017:
@Charles Davis Yes, you're quite right. Your interpretation is well consistent with the text I am dealing with.
Charles Davis Nov 23, 2017:
Cleared To elaborate a little on what Phil has said, "come on board" probably means entering into business dealings with Company Z: joining that particular operation, as you metaphorically come on board a ship. "Cleared" probably refers to completing the strict formalities required of companies before they can conduct financial transmission activities in the UK, which involve both being approved (after investigation) by the FCA (Financial Conduct Authority, the financial services regulator) and registering with HMRC (Her Majesty's Revenue and Customs, the tax authority). If a company starts to operate without having received approval and completed registration it is subject to severe penalities. So I think that's probably what "cleared to" refers to here.
Morad Seif (asker) Nov 23, 2017:
@philgoddard Following your useful explanation, it might mean it entered into an agreement with the Post Office on the subject.
philgoddard Nov 23, 2017:
In that case I think it probably means "company X was approved for this service". "Come onboard" means to join or become a part of something. For example, you might say "We welcome X onboard as our new CEO".
Morad Seif (asker) Nov 23, 2017:
More Context (Pdf Text, so it takes time for more Company X is a client of Company Z who requested the post office to collect from Company X.
On 13th July 2015, Company X was cleared to come on board and the collections started on 17th August 2015.
Between 17th august and 3rd December, the post office made 132 collections from company X, and these were paid into accounts held by Company Z on the same day as cash was processed. In total, 1/474/330 £ was collected by Post Office from Company X and paid into accounts held by Company Z.
philgoddard Nov 23, 2017:
We need several sentences, please. At the moment, there's no way of knowing what it means.
Morad Seif (asker) Nov 23, 2017:
more context This is a text about money laundering in UK. Some investigations are underway on two Money Service Businesses (MSB). The Post Office manager is explaining how they'd collect cash from one of the MSBs. He is explaining about the collections the Post Office made form the MSB.
Helena Chavarria Nov 23, 2017:
@Morad Could you possibly provide more context please. Does this have anything to do with ships or planes?
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