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Spanish to English translations [PRO]
Bus/Financial - Finance (general) / bills - trial balance sheet | | Spanish term or phrase: letras vs efectos | 11. – DEUDORES
El cobro de clientes se realizaba a sesenta días, mediante ***letras***, y, en menor parte, al contado. En esta cuenta se incluía la ***cartera de efectos*** que no había sido descontada. El detalle de la cuenta aparecía como sigue:
***Cartera de efectos***
Morosos
Anticipos al personal
Administración Pública
Clientes Dudoso Cobro
TOTAL
Las deudas de la Administración Pública se debían, en su mayoría, al IVA de inversiones, que la empresa no se atrevía a reclamar para evitar, lo que su gestor denominaba, “una inspección segura”. En la cuenta “Clientes Dudoso Cobro” estaban contabilizadas viejas deudas no recuperadas que se habían ido compensado con participaciones en el capital de dichos deudores.
This text is taken from notes explaining the items in a Spanish company's trial balance sheet.
Please excuse my ignorance, but I am a little confused over the difference between 'letras' and 'efectos' and how to translate this into English (preferably UK English, but any version would be better than none!).
As I understand it, 'efectos' include 'letras de cambio' and 'pagarés' - but I have seen both 'efectos' and 'letras' being called bills (or bills of exchange of course) whilst I have translated 'pagarés' as 'promissory notes'. In the above text, do they mean 'bills' when they say 'letras' AND 'efectos'? Or should I differentiate them in some way - and if so, which way? I have seen 'efectos' translated as 'bills, bank bills, trade bills, bank paper, notes'...etc. the list goes on!
Many thanks for any help with this!
Sheila |
|   Sheila HardieKudoZ activityQuestions: 748 ( 6 open) ( 7 without valid answers) ( 19 closed without grading) Answers: 2938
| | Local time: 04:17
|
| | bills (of exhcnage) / negotiable instruments | Explanation:
Hi,
some info which I hope will help, but I'm not a real expert!
According to the diccionario de contabilidad y finanzas, efectos usually refers to efectos comerciales, and states: "denominanción genérica utilizada para referirse a los títulos a la orden que son transmisibles por endoso... comprende a las letras de cambio, los pagarés a la orden, los cheques, los resguardos de las compañías de depósito, los concocimientos de embarque y otros títulos similares.
Same dictioanry says that letra usually refers to letra de cambio, which we know is a bill of exchange.
So, efectos include bills of exchange.
Oxford dictionary of finance and banking says that negotiable instruments are documents of title that can be freely negotiated, such as cheques and bills of exchange.
Negotiable instruments
The following documents are typical negotiable instruments: bills of lading,
warehouse receipts (if marked negotiable), bills of exchange, etc. which may be
transferred to another party by «endorsement». (1st ref)
NEGOTIABLE INSTRUMENT
Documents including Bills of Exchange, Promissory Notes, cheques, Bills of Lading and others which can be transferred to other parties by endorsement (2nd ref)
--------------------------------------------------
Note added at 25 mins (2003-09-03 14:04:38 GMT)
--------------------------------------------------
NEGOTIABLE INSTRUMENT, in law, a document or other instrument purporting to represent so much money, and the property in which passes, like money, by mere delivery. Negotiable instruments arise in either of two ways: (I) by statute, (2) by custom of merchants. The most commonly recognized negotiable instruments are bills of exchange, promissory notes, bills of lading, foreign bonds and debentures payable to bearer.
http://74.1911encyclopedia.org/N/NE/NEGOTIABLE_INSTRUMENT.ht...
--------------------------------------------------
Note added at 40 mins (2003-09-03 14:20:29 GMT)
--------------------------------------------------
whoops just realised I spelt exchange wrong up above 8sorry).
I hadn\'t taken cartera de efectos into consideration. That is, of course, a different matter. I don\'t know which one is right, but various sources suggest: bills discounted / notes receivable / discounted notes / portfolio / holdings |
| Selected response from:
Nikki Graham
United Kingdom
Local time: 03:17
| Grading comment Thank you all for your help here, and particularly Nikki for her very comprehensive answer. I shall go along with negotiable instruments for 'efectos' and bills for 'letras' as you suggest. Moreover, as Counsel suggested, I think 'cartera de efectos' could be 'portfolio of instruments' here. Thanks again! Sheila
4 KudoZ points were awarded for this answer |
| |
| Discussion entries: 0 |
|---|
Automatic update in 00:
|
12 mins confidence:  drafts and commercial paper
Explanation:
I believe in your text the "letras" refer to drafts payable at 60 days. "commercial paper" is a good translation of "efectos" and is broad enough to keep you safe. "commercial paper portfolio" makes perfect sense in your context.
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20 years in the business - most of it managing translation service for an investment bank
| Marian Greenfield
Local time: 22:17
Specializes in field
Native speaker of:  English
PRO pts in category: 1524
|
| | | Login to enter a peer comment (or grade) |
23 mins confidence:  peer agreement (net): +1 bills (of exhcnage) / negotiable instruments
Explanation:
Hi,
some info which I hope will help, but I'm not a real expert!
According to the diccionario de contabilidad y finanzas, efectos usually refers to efectos comerciales, and states: "denominanción genérica utilizada para referirse a los títulos a la orden que son transmisibles por endoso... comprende a las letras de cambio, los pagarés a la orden, los cheques, los resguardos de las compañías de depósito, los concocimientos de embarque y otros títulos similares.
Same dictioanry says that letra usually refers to letra de cambio, which we know is a bill of exchange.
So, efectos include bills of exchange.
Oxford dictionary of finance and banking says that negotiable instruments are documents of title that can be freely negotiated, such as cheques and bills of exchange.
Negotiable instruments
The following documents are typical negotiable instruments: bills of lading,
warehouse receipts (if marked negotiable), bills of exchange, etc. which may be
transferred to another party by «endorsement». (1st ref)
NEGOTIABLE INSTRUMENT
Documents including Bills of Exchange, Promissory Notes, cheques, Bills of Lading and others which can be transferred to other parties by endorsement (2nd ref)
--------------------------------------------------
Note added at 25 mins (2003-09-03 14:04:38 GMT)
--------------------------------------------------
NEGOTIABLE INSTRUMENT, in law, a document or other instrument purporting to represent so much money, and the property in which passes, like money, by mere delivery. Negotiable instruments arise in either of two ways: (I) by statute, (2) by custom of merchants. The most commonly recognized negotiable instruments are bills of exchange, promissory notes, bills of lading, foreign bonds and debentures payable to bearer.
http://74.1911encyclopedia.org/N/NE/NEGOTIABLE_INSTRUMENT.ht...
--------------------------------------------------
Note added at 40 mins (2003-09-03 14:20:29 GMT)
--------------------------------------------------
whoops just realised I spelt exchange wrong up above 8sorry).
I hadn\'t taken cartera de efectos into consideration. That is, of course, a different matter. I don\'t know which one is right, but various sources suggest: bills discounted / notes receivable / discounted notes / portfolio / holdings
Reference: http://www.ubs.com/e/ubs_ch/bb_ch/finance/trade_exportfinanc...
Reference: http://www.richardwillsher.com/?p=glossary:N
| Nikki Graham
United Kingdom
Local time: 03:17
Works in field
Native speaker of: English
PRO pts in category: 72
|
| | Grading comment | Thank you all for your help here, and particularly Nikki for her very comprehensive answer. I shall go along with negotiable instruments for 'efectos' and bills for 'letras' as you suggest. Moreover, as Counsel suggested, I think 'cartera de efectos' could be 'portfolio of instruments' here. Thanks again! Sheila |
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| Changes made by editors |
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| Jul 1, 2005 - Changes made by Nikki Graham: | | Field (specific) | (none) => Finance (general) |
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