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额度核销

English translation: Verification and Write-off of relevant amount of foreign exchange

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Chinese term or phrase:额度核销
English translation:Verification and Write-off of relevant amount of foreign exchange
Entered by: LoyalTrans
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07:09 Nov 8, 2007
Chinese to English translations [PRO]
Bus/Financial - Finance (general)
Chinese term or phrase: 额度核销
押汇业务收汇后,或逾期未收汇的,应及时进行额度核销.

My dictionary called 核销=cancel after verification; doesn't sound like a banking term; does this really mean reconciliation of credit line (line of credit); or simply "credit line reconciliation"?
Philip Tang
China
Local time: 06:36
Verification and Write-off of relevant amount of foreign exchange
Explanation:
这里的核销是外汇管理局的一个用于外汇管制的措施,跟银行无关。这里的额度应该是指出口时登记备案的出口金额(外汇),等到企业拿到钱了,去把这个保存在外管局的记录销除。
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LoyalTrans
Local time: 06:36
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Thank you very much!
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Summary of answers provided
4update the forex quota
fortune9001
4Verification and Write-off of relevant amount of foreign exchange
LoyalTrans


  

Answers


34 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Verification and Write-off of relevant amount of foreign exchange


Explanation:
这里的核销是外汇管理局的一个用于外汇管制的措施,跟银行无关。这里的额度应该是指出口时登记备案的出口金额(外汇),等到企业拿到钱了,去把这个保存在外管局的记录销除。

LoyalTrans
Local time: 06:36
Specializes in field
Native speaker of: Native in ChineseChinese
PRO pts in category: 60
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
update the forex quota


Explanation:
押汇业务收汇后,或逾期未收汇的,应及时进行额度核销.
in this context, the quota is updated but not cancelled, or the Chinese company in question cannot do foreign trade anymore.
"核销" is simple accounting term meaning "writeoff", "offset", or "update" depending on the situation (remember, Chinese is a very ambiguous language). The Chinese companies are subject to forex quota at banks, which is due to rules of SAFE for forex administration. Such quota limits the amount of foreign currency a Chinese company is eligible to use. The banks monitor such quota, and therefore will book every transaction to ensure an updated balance.

Example sentence(s):
  • Just read between the lines
fortune9001
Local time: 06:36
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Changes made by editors
Nov 15, 2007 - Changes made by LoyalTrans:
Created KOG entryKudoZ term » KOG term


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