What is Clearance?

Clearance can be defined as the elimination of something to make room for another. It is usually used in the context of marketing or business. A clearance sale indicates an end-of-season sale to make room for more stock. These sales can also be held to remove the slow-moving goods that are hardly sold to make room for new and better stock.

Clearance can also refer to having been cleared for special privileges in a business or organization.