Clarity
This is the purity quality of the diamond. The more inclusion and flaws the stone has the lower the grade as shown below. Flawless (FL) and Internally Flawless (IF) are the purest of the categories being the most expensive. Again, there are clarity treatments on the market which have to be declared which also affects the price substantially which will be labelled on the certificate.
This table shows the quality through a x10 loup which the trade uses. The table below shows the difference with and without a loup as you will see it with your naked eye in the shops. Note that a VS2 should not show any inclusions when viewed with the naked eye.