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organizacion auxiliar del credito

English translation: >> see below <<

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21:02 Jun 23, 2000
Spanish to English translations [PRO]
Bus/Financial
Spanish term or phrase: organizacion auxiliar del credito
Aack! I'm having trouble with said term, as well as "factoraje financiero" which is considered to be an "organizacion auxiliar del credito". Also, would "derechos de credito" be "credit rights" and "letras electronicas" be "electronic drafts or transfers"? I'd greatly appreciate any hints in the right direction...
Paula K.
English translation:>> see below <<
Explanation:
"organizacion auxiliar del credito" = "auxiliary (or "secondary") credit institution"; "factoraje financiero" = "financial factoring organization (or "institution")"; that is, a company which, for a fee, advances you money today against the unpaid invoices you've issued to other companies for payment next week or next month. "Derechos de credito" is indeed "credit rights" (or, if the context supports it, "drawing rights" (i.e., the right to draw funds against a credit line)), and "letras electronicas" could certainly be "electronic drafts or transfers," or even "electronic letters of credit." -- Hope this helps! -- HC
Selected response from:

Heathcliff
United States
Local time: 20:19
Grading comment
Apologies for the delay in grading the answers posted. I ended up using "auxiliary credit organization" because "institution" seemed to be too specific and the phrase, which I found defined in the relevant statute, seemed to be an umbrella term that included several disparate categories of credit-granting enterprises. I went with "electronic drafts", but now that I think of it maybe I should have gone with "electronic credit memoranda"(?), and "credit rights". Thanks to you, Heathcliff, (and to you, BAQMIA, for the website link) and to all who replied so quickly. Apologies again for my late reply...
3 KudoZ points were awarded for this answer

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Summary of answers provided
nasee below...gregorio ayala
naSee belowLeonardo Lamarche
nacredit assistance organizationTelesforo Fernandez
nafactoraje, etc...BAQMIA
na>> see below <<Heathcliff
nacredit granted/backed by receivablesBAQMIA


  

Answers


10 mins
credit granted/backed by receivables


Explanation:
Used quite commonly in Mexico... please refer to web page for educational experience. There's an on-line glossary that could really be of help.

Hope this helps.


    Reference: http://www.shcp.gob.mx/docs/glosario/f.html
BAQMIA
Local time: 23:19
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 51
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10 mins
>> see below <<


Explanation:
"organizacion auxiliar del credito" = "auxiliary (or "secondary") credit institution"; "factoraje financiero" = "financial factoring organization (or "institution")"; that is, a company which, for a fee, advances you money today against the unpaid invoices you've issued to other companies for payment next week or next month. "Derechos de credito" is indeed "credit rights" (or, if the context supports it, "drawing rights" (i.e., the right to draw funds against a credit line)), and "letras electronicas" could certainly be "electronic drafts or transfers," or even "electronic letters of credit." -- Hope this helps! -- HC

Heathcliff
United States
Local time: 20:19
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 843
Grading comment
Apologies for the delay in grading the answers posted. I ended up using "auxiliary credit organization" because "institution" seemed to be too specific and the phrase, which I found defined in the relevant statute, seemed to be an umbrella term that included several disparate categories of credit-granting enterprises. I went with "electronic drafts", but now that I think of it maybe I should have gone with "electronic credit memoranda"(?), and "credit rights". Thanks to you, Heathcliff, (and to you, BAQMIA, for the website link) and to all who replied so quickly. Apologies again for my late reply...
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12 mins
factoraje, etc...


Explanation:
Sorry, here is the address to the glossary.



    Reference: http://www.shcp.gob.mx/docs/glosario/glosario.html
BAQMIA
Local time: 23:19
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 51
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5 hrs
credit assistance organization


Explanation:
this would convey the meaning to the closest. Auxiliar here means something tht assists the credit line.

Telesforo Fernandez
Local time: 09:49
PRO pts in pair: 262
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19 hrs
see below...


Explanation:
banking institution.... brokerage firm....

gregorio ayala
PRO pts in pair: 4
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21 hrs
See below


Explanation:
Factoraje Financiero = En la jerga bancaria en USA es simplemente "factoring", pues se entiende que es financiero. Como otros colegas lo explicaron es un crédito otorgado al ceder las cuentas por cobrar a una entidad financiera, quien las recibe a un precio menor (factor menor a 1, de ahí su nombre).
Organización auxiliar de crédito = Se refiere al Depto. o Unidad del ente financiero que se encarga de proveer los servicios de "factoring". Se puede traducir como: Auxiliary Credit Dept.
Derechos de crédito = Credit rights or Open line of credit. Letras electrónicas = Wire letters of credit.
Hope it helps.

Leonardo Lamarche
Local time: 00:19
PRO pts in pair: 124
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