, settlements of electronic postal payment services between designated operators shall pass through the Union’s central clearing house, in accordance with the procedures set out in the Regulations, and be carried out from the designated operators’ concentration accounts.
2 Bilateral settlement
2.1 Billing on the basis of the general account balance
2.1.1 Designated operators that are not members of the centralized clearing system, or that are settling paper-based postal payments, may settle accounts on the basis of the balance of the general account.
2.2 Liaison account
2.2.1 Where designated operators have a giro institution, they may each open a liaison account by means of which shall be settled their mutual debts and claims resulting from postal payment services.
2.2.2 Where the paying designated operator does not have a giro system, the liaison account may be opened with another financial institution.
2.3 Currency of settlement
2.3.1 Settlements shall be carried out in the currency of the destination country or in a third currency agreed between the designated operators.