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Texto de Responsabilidade do Cedente

English translation: text provided by the assignor

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Portuguese term or phrase:Texto de Responsabilidade do Cedente
English translation:text provided by the assignor
Options:
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19:29 Feb 20, 2012
    The asker opted for community grading. The question was closed on 2012-02-24 14:54:08 based on peer agreement (or, if there were too few peer comments, asker preference.)


Portuguese to English translations [Non-PRO]
Bus/Financial - Finance (general)
Portuguese term or phrase: Texto de Responsabilidade do Cedente
A line in a box in the same Collection Order Form I quoted in my previous question.
Here's the full contents of this box (in the middle of the Form):

Instruções (Texto de Responsabilidade do Cedente):

NÃO RECEBER APOS 30 DIAS DO VENCIMENTO

Ref. Aluguel Jan 2012 (so, this is about paying the rent for Jan. '12 - ViBe)
Tarifa de 2,87
ViBe
Local time: 11:53
text provided by the assignor
Explanation:
This is the field where the party who assigned the credit for collection by the bank can put instructions referring to interest, overdue fines or, as in this case, "do not receive if more than 30 days overdue".

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Note added at 6 hrs (2012-02-21 02:13:28 GMT)
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Yes, "...to be filled out by..." or "...to be provided by...". In those cases where the client "discounts" a trade note with the bank (i.e. factoring), the bank sets the penalties for late payment, as it now owns the credit. But when the client simply uses the bank's collection service, the client sets the penalties and the bank just charges a fee for the collection service. I think that is the case here, and "Tarifa de 2,87" is the bank charge for the service. Both of these kinds of operations are VERY common in Brazil, with very little collection being done directly by the creditor. They have the advantage that the debtor can normally make payment in any bank in Brazil up to the due date.
Selected response from:

Martin Riordan
Brazil
Local time: 07:53
Grading comment
Thank you for dispelling my doubts!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4text provided by the assignor
Martin Riordan


  

Answers


25 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
text provided by the assignor


Explanation:
This is the field where the party who assigned the credit for collection by the bank can put instructions referring to interest, overdue fines or, as in this case, "do not receive if more than 30 days overdue".

--------------------------------------------------
Note added at 6 hrs (2012-02-21 02:13:28 GMT)
--------------------------------------------------

Yes, "...to be filled out by..." or "...to be provided by...". In those cases where the client "discounts" a trade note with the bank (i.e. factoring), the bank sets the penalties for late payment, as it now owns the credit. But when the client simply uses the bank's collection service, the client sets the penalties and the bank just charges a fee for the collection service. I think that is the case here, and "Tarifa de 2,87" is the bank charge for the service. Both of these kinds of operations are VERY common in Brazil, with very little collection being done directly by the creditor. They have the advantage that the debtor can normally make payment in any bank in Brazil up to the due date.


Martin Riordan
Brazil
Local time: 07:53
Works in field
Native speaker of: Native in EnglishEnglish, Native in PortuguesePortuguese
PRO pts in category: 178
Grading comment
Thank you for dispelling my doubts!
Notes to answerer
Asker: or TO BE FILLED OUT by the guy, right? Yes, makes perfect sense. Thank you, Martin!

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