règlement par traite
English translation: payment by bank draft
| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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| 12:04 Mar 22, 2007 |
| French to English translations [PRO] Bus/Financial - Finance (general) | |||||||
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|  Selected response from: Bourth (X) Local time: 02:12 | ||||||
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| 4 +6 | payment by bank draft |
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| 5 | payment by direct debit |
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Answers
15 mins confidence: 
payment by direct debit Explanation: I believe this is a little different from a bank draft, which is more like a cheque, in that you don't give any bank document to the payee -- instead, you sign an authorisation giving them your bank details [RIB] for them to go and ask the bank to debit your account. It's a method I don't like because normally you're never sure when it will hit your account, although in this case they give the actual date. How do I know: 7 years in UK international banking, 6 in US international banking, living in France for 6 years now and, after a first disorderly experience, refusing further "traite" arrangements! |
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5 mins confidence: 
peer agreement (net): +6
peer agreement (net): +6payment by bank draft Explanation: traite = bank draft -------------------------------------------------- Note added at 5 days (2007-03-27 12:58:40 GMT) Post-grading -------------------------------------------------- bank draft Definition A check drawn by one bank against funds deposited into its account at another bank, authorizing the second bank to make payment to the individual named in the draft. http://www.investorwords.com/404/bank_draft.html Bank Draft - A written order by a bank drawn on the account it maintains with another bank, payable to the order of a specific payee, for a specific sum of money, and payable on demand. In international trade, a U.S. based bank draws its draft on its account with a foreign correspondent bank. Compare "Check." http://www.firsttradenet.com/its/glossary/index.jsp?area2=gl... Bank Draft An order to pay on demand; a draft drawn on one bank by another. It is used to transfer funds and to settle outstanding balances between banks, or to provide a customer with funds payable at a bank in a distant location. http://www.johnsonportal.com/intl_banking/terms.htm Can be of different types, e.g. sight draft, time draft. Some payees like them, because in the case of a time draft (issued before the date of payment) they have the quasi-certainty they will be paid yet, since drafts are negotiable, can get the money immediately, upon payment of a commission to the holding bank. Barclays Bank websites refer to them frequently enough for me to think it is a standard UK term, at least. |
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