Some of the key drivers that result in the IATA Clearing House benefits are:
On-line filing of weekly claims and retrieval of reports
Fast debt-collection under a published annual calendar
Improved receivables and cash management
Great reduction in interline collection work
Enlarged interline market resulting in increased credit
Greatly increased protection against bad debts and bankruptcy
Reduction or elimination of Central Bank authority to remit monies and of bank charges
Currently 3 currencies of clearance and settlement, GBP, USD and EUR are offered; however 2 additional currencies will be offered in the future - JPY and AUD.