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interés legal del dinero

English translation: legal interest rate

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19:41 Mar 30, 2002
Spanish to English translations [PRO]
Law/Patents / Invoicing
Spanish term or phrase: interés legal del dinero
XXX emitirá mensualmente una factura por los trabajos realizados durante el mes así como, en su caso, por los gastos incurridos. Las facturas serán pagaderas a los treinta días desde su fecha de emisión. A partir de la fecha de vencimiento se devengará un interés de demora igual al del interés legal del dinero incrementado en tres puntos.
------------------------------
XXX shall issue a monthly invoice for the work performed during the month as well as, if applicable, for the expenses incurred. Invoices shall be payable thirty days from their date of issue. Starting from the due date, a late payment interest surcharge shall accrue, said interest being equal to the legal interest on currency plus three points.
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Aaarrgh!
I'm pretty sure what it's TRYING TO SAY is that the invoices are payable WITHIN 30 DAYS NOT STARTING on the 30th day, and that the interest surcharge STARTS accruing AFTER the 30 days for payment (cause no DARN DUE DATE IS MENTIONED!). But I can't take the license to say that, can I?

¿Interés legal del dinero?
Duh? Say what?
Can I call it the price of money?
Anything to do with call money?
Help, finance wizards! Everything was going fine until I ran into the tire spikes.
DOUBLE A EN<>ES
English translation:legal interest rate
Explanation:
That's what it means.
Plus in accounting, invoices are said to be due "at 30, 60 or 90 days"
meaning you have to pay by then


"the interest surcharge accrues as of the due date"
that's how you might say it; they never put in due dates because it's an in general thing like on the back of credit card statement

hope this helps:)

--------------------------------------------------
Note added at 2002-03-30 19:52:13 (GMT)
--------------------------------------------------

Check out the back of a credit card statement for help!!!

--------------------------------------------------
Note added at 2002-03-30 21:17:33 (GMT)
--------------------------------------------------

Even if you don\'t have a credit card statement, the language is the same

--------------------------------------------------
Note added at 2002-03-30 21:25:58 (GMT)
--------------------------------------------------

Re what Robert wrote. As always it is wise, but the text says legal rate. There could be a million uses for this text and not just getting it into \"American\". I mean, legal is legal there\'s no getting around it. See Umberto Eco on overreading of texts. I agree one must be vigilant but you can\'t lead the way away from the text to a completely different subject. People write stuff all the time that makes no sense. The question is do you translate what is at hand or do you inform your client \"what is right\"? I mean, Rick may be translating documents in a court case in which case, Robert\'s argument is moot. As for credit cards, they use the same lingo as this. Anyway, I don\'t think, to really hammer it in, that one can disregard the word \"legal\" in this text and just decide to translate it as national bank

--------------------------------------------------
Note added at 2002-03-30 21:28:46 (GMT)
--------------------------------------------------

One last note: once you do translate \"legal\" as national bank rate, you are in fact rewriting the text. No hard feelings, Robert, you are really good but I just think we have to avoid correcting the client, even when they are wrong. Unless they ask for it. :)

--------------------------------------------------
Note added at 2002-03-31 01:00:40 (GMT)
--------------------------------------------------

from Banco de España:
De conformidad con lo dispuesto en el articulo 1 de la Ley 24/1984, de 29 de junio, sobre modificacion del tipo de interes legal del dinero, este queda establecido en el 9 por 100 hasta el 31 de diciembre de 1994.
So they do have such a bicho. And the translation would be: legal interest rate
Selected response from:

Jane Lamb-Ruiz
Grading comment
Absolutely!. The Banco de España reference is a clincher, though is just goes to show that official government sources are leaders in publishing stuff that makes no sense. I agree with you BEYOND WHOLEHEARTEDNESS that I have to put what's on the paper, and not what I think they meant. I may exercise a little latitude with that, but very little. I'm not getting paid for rewriting. And believe me, in Spain, that's exactly what people think comes included in the package. Since they know that 99% of the time that the writing is hideously nonsensical, but won't admit it, they assume the translator will improve the English version. Sorry, but homey don't play that. I can't resist pasting an example from a previous job that's a real prize-winner:

"EL DESTINO DE LOS BENEFICIOS.-
La Fundación APC es una organización sin ánimo de lucro que
destinará el superávit de la organización del acontecimiento
previsto gracias a las aportaciones del público visitante,
instituciones y empresas colaboradoras a ayudar financieramente
al Comité Paralímpico de cada país visitado por la Flota,
en su participación a los Juegos Paralímpicos, que
se celebrarán en Atenas, una vez clausurados los Juegos
Olímpicos de Verano de 2004."

Here's one for Umberto Eco for you. We have a non-for-profit organization that's going to allocate profits to something. Just dandy. Plus the rest of it is just insanely convoluted. Know what? When presented with this, the client-organizer (not the writer though), pompous owner of a company, just blabbed nonsensically in the same style as the writing as to why the paragraph was fine. "Pues, claro, bueno, pues, no, los beneficios, no se destinan. Es el superávit que se destina. Porque claro, hay un dinero del dinero, y ese dinero..."
Blah, blah. No sense at all, but will not dare admit that the original is trash. Too proud for that. How do you allocate a surplus to something, if you don't state what the surplus is of??? Great paragraph for a semantic and gramatical analysis.

I don't know what it's like on the other side of ocean nowadays, but in Spain, the writing is atrocious.

Thanks, Jane, Robert, Aurora, Henry and everybody.

4 KudoZ points were awarded for this answer

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Summary of answers provided
5perdón pero le hice un par de cambios a tu tradux.Aurora Humarán
4 +1national bank interest rate + penalty for default.
Robert INGLEDEW
5legal interest rateJane Lamb-Ruiz
4interés máximo legal
Bernardo Ortiz
3 +1legal interest on money (or funds)
Henry Hinds


Discussion entries: 8





  

Answers


6 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
legal interest on money (or funds)


Explanation:
Aunque la verdad, se trata de cobrar una sobretasa y siendo así, entonces rebasaría el "interés legal".

Un imponderable a no ser que otro colega conocedor del medio te aclare el detalle.


    Exp.
Henry Hinds
United States
Local time: 16:59
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 26512

Peer comments on this answer (and responses from the answerer)
agree  xxxLilla
1 min
  -> Thanks, Mike!
Login to enter a peer comment (or grade)

9 mins   confidence: Answerer confidence 5/5
legal interest rate


Explanation:
That's what it means.
Plus in accounting, invoices are said to be due "at 30, 60 or 90 days"
meaning you have to pay by then


"the interest surcharge accrues as of the due date"
that's how you might say it; they never put in due dates because it's an in general thing like on the back of credit card statement

hope this helps:)

--------------------------------------------------
Note added at 2002-03-30 19:52:13 (GMT)
--------------------------------------------------

Check out the back of a credit card statement for help!!!

--------------------------------------------------
Note added at 2002-03-30 21:17:33 (GMT)
--------------------------------------------------

Even if you don\'t have a credit card statement, the language is the same

--------------------------------------------------
Note added at 2002-03-30 21:25:58 (GMT)
--------------------------------------------------

Re what Robert wrote. As always it is wise, but the text says legal rate. There could be a million uses for this text and not just getting it into \"American\". I mean, legal is legal there\'s no getting around it. See Umberto Eco on overreading of texts. I agree one must be vigilant but you can\'t lead the way away from the text to a completely different subject. People write stuff all the time that makes no sense. The question is do you translate what is at hand or do you inform your client \"what is right\"? I mean, Rick may be translating documents in a court case in which case, Robert\'s argument is moot. As for credit cards, they use the same lingo as this. Anyway, I don\'t think, to really hammer it in, that one can disregard the word \"legal\" in this text and just decide to translate it as national bank

--------------------------------------------------
Note added at 2002-03-30 21:28:46 (GMT)
--------------------------------------------------

One last note: once you do translate \"legal\" as national bank rate, you are in fact rewriting the text. No hard feelings, Robert, you are really good but I just think we have to avoid correcting the client, even when they are wrong. Unless they ask for it. :)

--------------------------------------------------
Note added at 2002-03-31 01:00:40 (GMT)
--------------------------------------------------

from Banco de España:
De conformidad con lo dispuesto en el articulo 1 de la Ley 24/1984, de 29 de junio, sobre modificacion del tipo de interes legal del dinero, este queda establecido en el 9 por 100 hasta el 31 de diciembre de 1994.
So they do have such a bicho. And the translation would be: legal interest rate


Jane Lamb-Ruiz
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in pair: 7709
Grading comment
Absolutely!. The Banco de España reference is a clincher, though is just goes to show that official government sources are leaders in publishing stuff that makes no sense. I agree with you BEYOND WHOLEHEARTEDNESS that I have to put what's on the paper, and not what I think they meant. I may exercise a little latitude with that, but very little. I'm not getting paid for rewriting. And believe me, in Spain, that's exactly what people think comes included in the package. Since they know that 99% of the time that the writing is hideously nonsensical, but won't admit it, they assume the translator will improve the English version. Sorry, but homey don't play that. I can't resist pasting an example from a previous job that's a real prize-winner:

"EL DESTINO DE LOS BENEFICIOS.-
La Fundación APC es una organización sin ánimo de lucro que
destinará el superávit de la organización del acontecimiento
previsto gracias a las aportaciones del público visitante,
instituciones y empresas colaboradoras a ayudar financieramente
al Comité Paralímpico de cada país visitado por la Flota,
en su participación a los Juegos Paralímpicos, que
se celebrarán en Atenas, una vez clausurados los Juegos
Olímpicos de Verano de 2004."

Here's one for Umberto Eco for you. We have a non-for-profit organization that's going to allocate profits to something. Just dandy. Plus the rest of it is just insanely convoluted. Know what? When presented with this, the client-organizer (not the writer though), pompous owner of a company, just blabbed nonsensically in the same style as the writing as to why the paragraph was fine. "Pues, claro, bueno, pues, no, los beneficios, no se destinan. Es el superávit que se destina. Porque claro, hay un dinero del dinero, y ese dinero..."
Blah, blah. No sense at all, but will not dare admit that the original is trash. Too proud for that. How do you allocate a surplus to something, if you don't state what the surplus is of??? Great paragraph for a semantic and gramatical analysis.

I don't know what it's like on the other side of ocean nowadays, but in Spain, the writing is atrocious.

Thanks, Jane, Robert, Aurora, Henry and everybody.
Login to enter a peer comment (or grade)

10 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
national bank interest rate + penalty for default.


Explanation:
Very few countries have a "legal" interest rate, since the interest rate varies from one bank to another, and from one day to another. Normally you quote the interest rate in force in the National Bank of that country, plus a 3 percent for default. If you are going to use the interest rate of any other bank, you should quote it, since the difference amongst the banks is usually considerable. It could also be the interest rate determined by the Federal Reserve, but not in this context, since it is always far lower than the rate charged by the banks.

--------------------------------------------------
Note added at 2002-03-30 19:55:36 (GMT)
--------------------------------------------------

I do not know of any case of \"legal\" maximum rate. For instance, some VISA cards in the USA charge 6% annual interest, others 24%, and in Argentina American Express charges over 30% per year, in US Dollars. I only know of one provincial Law in Argentina (Mendoza) which says that any interest rate exceeding 3 per cent per month above the prevailing bank interest rates, is considered to be usury.

--------------------------------------------------
Note added at 2002-03-30 20:12:47 (GMT)
--------------------------------------------------

I have just checked in Internet, regarding your comment above, that Spain also has credit cards, and they call them tarjetas de crédito. See the reference below from Yahoo España:
Categorías del Directorio Mostrando 1 - 5 de 7


Categorías que contienen Tarjeta de crédito
Tarjetas de crédito
España > Economía y negocios > Productos y servicios para el consumidor > Servicios financieros > Financiación y crédito > Tarjetas de crédito

Robert INGLEDEW
Argentina
Local time: 19:59
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in pair: 1940

Peer comments on this answer (and responses from the answerer)
agree  Jane Lamb-Ruiz: I don't see how a text can use the term legal rate and then we ignore it. It all depends on the purpose of this text. The client really should be consulted.
1 hr

neutral  Henry Hinds: FYI - In the US, maximum interest rates are set by the 50 states and vary.
3 hrs
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23 mins   confidence: Answerer confidence 5/5
perdón pero le hice un par de cambios a tu tradux.


Explanation:
XXX shall issue a monthly invoice for the work performed during the month and for expenses incurred, if applicable. Invoices shall be payable thirty days from their issuance date. A late charge interest will start accruing as from due date. Said interest shall be equal to the statutory money interest increased by three points.


--------------------------------------------------
Note added at 2002-03-30 20:28:44 (GMT)
--------------------------------------------------

Te aclaro dos cosas:
1) como todo traductor ahí va mi idiolecto (mis palabritas preferidas I mean)
2) los intereses por mora en el banco los llamamos late charge interests para diferenciarlos de los punitorios que son penalties.
=) saludos desde Buenos Aires.


    Traductora in-house de un Banco
Aurora Humarán
Argentina
Local time: 19:59
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 395
Login to enter a peer comment (or grade)

35 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
interés máximo legal


Explanation:
más tres puntos por mora


Bernardo Ortiz
Colombia
Local time: 17:59
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