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Efeitos Domiciliados

English translation: automatic payments / drafts

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Portuguese term or phrase:efeitos domiciliados
English translation:automatic payments / drafts
Entered by: Margarita Palatnik
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03:46 Oct 11, 2004
Portuguese to English translations [PRO]
Bus/Financial - Finance (general) / banking services
Portuguese term or phrase: Efeitos Domiciliados
According to EURODICATOM, efeito is a bill of exchange. The doubts are about the domicliado part.
EURODICAUTOM says that domiciliação is "domicile of a bill", an address specially indicated on a bill of exchange or cheque by the drawer or drawee indicating where payment will be made when due.

http://www.derechocomercial.edu.uy/ClaseLetra04.htm (in Spanish):
En materia de letras, lo normal es que se pague en el domicilio del girado. La letra domiciliada es aquella que contiene la indicación de que el pago se efectuará en el domicilio de un tercero. Está previsto en el artículo 58. Queremos aclarar que cuando se dice que la letra va a ser pagada en el domicilio de un tercero, ello significa que el tercero ha de hacer el pago por cuenta del girado.

In a website of a Russian bank (http://www.ipotekabank.com/?id=1635) they mention "Domiciling of bills" which is translated into Russian as "Домициляция векселей". On a website of another Russian bank they explain that Домициляция – назначение плательщиком по векселю третьего лица - namely, that domiciliation means that the third person will pay the bill.

Is it possible to conclude from all this that Efeitos Domiciliados are bills of exchange that will be paid by the third person/party and Efeitos Não Domiciliados are bills of exchange that will be paid by the fist party and no third parties are involved?

I am seeking an explanation rather than translation. :)
tinageta
Local time: 23:27
automatic payments/drafts
Explanation:
I guess you weren't convinced by this answer, but I'll try again:

efeitos domiciliados in Portuguese (adeudos domiciliados in Spanish) are draft orders for automatic payments to be done on a regular basis.

So, you want to pay your rent (as in your specific example), you tell your bank to pay every month the same amount to the same account.

On the other side, if you are a business, you issue an order to collect the same amount of funds from a given account on X day every month, say, for health-club membership fees...

No domiciliados is when someone comes to the bank teller to pay a bill, in a non-automated process...
Selected response from:

Margarita Palatnik
Local time: 19:27
Grading comment
I was not convinced as regards the particular context, but nevertheless the aswer was very helpful. Thank you very much, Margarita!
2 KudoZ points were awarded for this answer



Summary of answers provided
5automatic payments/drafts
Margarita Palatnik


Discussion entries: 3





  

Answers


3 hrs   confidence: Answerer confidence 5/5
efeitos domiciliados
automatic payments/drafts


Explanation:
I guess you weren't convinced by this answer, but I'll try again:

efeitos domiciliados in Portuguese (adeudos domiciliados in Spanish) are draft orders for automatic payments to be done on a regular basis.

So, you want to pay your rent (as in your specific example), you tell your bank to pay every month the same amount to the same account.

On the other side, if you are a business, you issue an order to collect the same amount of funds from a given account on X day every month, say, for health-club membership fees...

No domiciliados is when someone comes to the bank teller to pay a bill, in a non-automated process...

Margarita Palatnik
Local time: 19:27
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 58
Grading comment
I was not convinced as regards the particular context, but nevertheless the aswer was very helpful. Thank you very much, Margarita!
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