C2 · 50 words
Trade finance in Spanish
Letters of credit, guarantees, cover and contract clauses — who pays when, if buyer and seller never meet.
El descuento de efectos is the discounting of bills, and el efecto has to be unfolded into three English words. On its own it is the effect: el efecto de la subida. In the plural beside personales it is somebody's belongings, the things left in a hotel room. And in commerce un efecto is a bill of exchange, a piece of paper promising money on a date — efectos a cobrar, el descuento de efectos. English keeps « effect », « effects » and « bill » apart and hears nothing that joins them.
The words
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Phrase (48)
la financiación del comercio exteriorthe paying for goods that cross a border, with instruments of its ownPhraseC2
La financiación del comercio exterior tiene sus propios instrumentos.Trade finance has instruments of its own.
el crédito documentariothe promise of a bank to pay against papers rather than against goodsPhraseC2
El crédito documentario paga contra documentos, no contra mercancía.The documentary credit pays against documents, not against goods.
el banco emisor del créditothe bank that opens that promise and owes the moneyPhraseC2
El banco emisor del crédito asume el compromiso de pago.The issuing bank takes on the payment undertaking.
el banco avisadorthe bank that only passes the promise on and owes nothingPhraseC2
El banco avisador solo comunica, no se obliga.The advising bank only passes the message on, it undertakes nothing.
la confirmación del créditothe adding of a second bank's promise to the firstPhraseC2
La confirmación del crédito añade la garantía de un segundo banco.Confirming the credit adds a second bank's undertaking.
el crédito irrevocablethe credit that cannot be changed unless everybody agreesPhraseC2
El crédito irrevocable no se modifica sin acuerdo de todos.The irrevocable credit is not changed without everyone's agreement.
el crédito transferiblethe credit a middleman can pass on to his own supplierPhraseC2
El crédito transferible sirve al intermediario.The transferable credit serves the middleman.
el crédito rotativothe credit that fills itself up again after every shipmentPhraseC2
El crédito rotativo se repone tras cada envío.The revolving credit is replenished after each shipment.
la carta de crédito contingentethe credit meant never to be drawn, and drawn only if something failsPhraseC2
La carta de crédito contingente solo se usa si algo falla.The standby letter of credit is used only if something fails.
la presentación conformethe papers that match the credit to the letterPhraseC2
La presentación conforme obliga al banco a pagar.A complying presentation obliges the bank to pay.
la discrepancia documentalthe single word in the papers that lets the bank refusePhraseC2
La discrepancia documental basta para rechazar el pago.A documentary discrepancy is enough to refuse payment.
el levantamiento de reservasthe buyer's word that the bank may pay in spite of itPhraseC2
El levantamiento de reservas lo autoriza el comprador.The waiver of discrepancies is authorised by the buyer.
el plazo de presentaciónthe days a seller has to get the papers inPhraseC2
El plazo de presentación vence a los veintiún días.The presentation period runs out after twenty-one days.
la remesa documentariathe cheaper arrangement in which the bank only forwards the papersPhraseC2
La remesa documentaria es más barata y menos segura.The documentary collection is cheaper and less safe.
la entrega contra aceptaciónthe papers handed over against a signature promising to pay laterPhraseC2
La entrega contra aceptación concede un plazo al comprador.Documents against acceptance give the buyer time.
la entrega contra pagothe papers handed over against the money on the spotPhraseC2
La entrega contra pago no da crédito alguno.Documents against payment grant no credit at all.
el pago anticipadothe money paid before anything is shippedPhraseC2
El pago anticipado traslada todo el riesgo al comprador.Payment in advance moves the whole risk to the buyer.
la venta en cuenta abiertathe goods shipped before anything is paidPhraseC2
La venta en cuenta abierta supone plena confianza.Selling on open account assumes complete trust.
el descuento de efectosthe buying of a bill before its date, for slightly lessPhraseC2
El descuento de efectos adelanta el importe menos intereses.Discounting bills advances the amount less interest.
el factoring sin recursothe buying of trade debts with the risk of non-payment includedPhraseC2
El factoring sin recurso traslada el riesgo de impago.Non-recourse factoring passes on the risk of non-payment.
la cesión de créditos comercialesthe handing of trade debts to somebody else, told to the debtorPhraseC2
La cesión de créditos comerciales se notifica al deudor.The assignment of trade receivables is notified to the debtor.
el seguro de crédito a la exportaciónthe policy that pays the exporter when the foreign buyer does notPhraseC2
El seguro de crédito a la exportación cubre el impago.Export credit insurance covers non-payment.
la cobertura del riesgo paísthe cover against the country itself, not against the buyerPhraseC2
La cobertura del riesgo país la ofrece una agencia estatal.Country risk cover is offered by a state agency.
el crédito a la exportación con apoyo oficialthe export credit the state stands behind, under agreed rulesPhraseC2
El crédito a la exportación con apoyo oficial sigue reglas acordadas.Officially supported export credit follows agreed rules.
el crédito compradorthe credit given to the foreign buyer so that he can payPhraseC2
El crédito comprador se concede al importador extranjero.The buyer credit is granted to the foreign importer.
el crédito suministradorthe credit the seller grants out of his own pocketPhraseC2
El crédito suministrador lo financia el propio vendedor.The supplier credit is financed by the seller himself.
la prima de coberturawhat the cover costs, which depends on where the goods are goingPhraseC2
La prima de cobertura depende del país de destino.The cover premium depends on the country of destination.
el aval bancario internacionalthe promise by which a bank stands in for its customer abroadPhraseC2
El aval bancario internacional se ejecuta a primer requerimiento.The international bank guarantee is called on first demand.
la garantía a primer requerimientothe promise paid on being asked, with no argument about the meritsPhraseC2
La garantía a primer requerimiento se paga sin discutir el fondo.A first-demand guarantee is paid without arguing the merits.
la garantía de licitaciónthe guarantee lost by a bidder who walks away from the offerPhraseC2
La garantía de licitación se pierde si se retira la oferta.The bid bond is lost if the offer is withdrawn.
la garantía de buena ejecuciónthe guarantee that the work will actually be donePhraseC2
La garantía de buena ejecución cubre el diez por ciento del contrato.The performance guarantee covers ten per cent of the contract.
la garantía de devolución de anticipothe guarantee that money paid up front comes back if it has toPhraseC2
La garantía de devolución de anticipo protege el pago inicial.The advance payment guarantee protects the first payment.
la ejecución abusiva de la garantíathe calling of a guarantee by somebody with no right to itPhraseC2
La ejecución abusiva de la garantía es difícil de frenar.An abusive call on the guarantee is hard to stop.
el riesgo de transferenciathe risk that the money exists but cannot leave the countryPhraseC2
El riesgo de transferencia impide sacar el dinero del país.Transfer risk keeps the money from leaving the country.
el riesgo de convertibilidadthe risk that the money cannot be turned into another currencyPhraseC2
El riesgo de convertibilidad aparece con control de cambios.Convertibility risk appears with exchange controls.
la cobertura del tipo de cambiothe fixing today of what a future payment will be worthPhraseC2
La cobertura del tipo de cambio fija hoy el precio de mañana.Hedging the exchange rate fixes tomorrow's price today.
el seguro de transporte de mercancíasthe policy that follows the goods from door to doorPhraseC2
El seguro de transporte de mercancías cubre puerta a puerta.Cargo insurance covers door to door.
la avería gruesathe loss taken on purpose to save the ship, shared by everybody who loadedPhraseC2
La avería gruesa reparte la pérdida entre todos los cargadores.General average shares the loss among all the shippers.
el término de entregathe short standard clause saying who pays for what and who carries the riskPhraseC2
El término de entrega reparte costes y riesgo.The delivery term splits costs and risk.
la transmisión del riesgothe moment from which the risk is the buyer's and no longer the seller'sPhraseC2
La transmisión del riesgo ocurre al cargar el buque.Risk passes when the goods are loaded on the ship.
la factura comercialthe seller's bill for the goods, travelling with the other papersPhraseC2
La factura comercial acompaña a los demás documentos.The commercial invoice travels with the other documents.
la lista de empaquethe paper listing how the goods are packed and what each package weighsPhraseC2
La lista de empaque detalla bultos y pesos.The packing list sets out packages and weights.
la compraventa internacional de mercaderíasthe selling of goods across borders, and the treaty written for itPhraseC2
La compraventa internacional de mercaderías tiene un convenio propio.The international sale of goods has a convention of its own.
el incumplimiento esencialthe breach that takes away what the other side bargained forPhraseC2
El incumplimiento esencial permite resolver de inmediato.A fundamental breach allows immediate avoidance.
la fuerza mayor contractualthe event nobody could prevent, which excuses performance only while it lastsPhraseC2
La fuerza mayor contractual exonera solo mientras dura.Contractual force majeure excuses only while it lasts.
la cláusula de excesiva onerosidadthe clause for when performance of the contract turns ruinous without turning impossiblePhraseC2
La cláusula de excesiva onerosidad obliga a renegociar.The hardship clause obliges the parties to renegotiate.
la reserva de dominiothe seller keeping ownership until the last instalment is paidPhraseC2
La reserva de dominio no siempre se reconoce en destino.Retention of title is not always recognised at destination.
la cláusula de arbitraje comercialthe clause sending a dispute to arbitrators instead of a foreign courtPhraseC2
La cláusula de arbitraje comercial evita el juzgado extranjero.The commercial arbitration clause avoids the foreign court.
Noun (f) (2)
la forfetizaciónthe buying of long export debts outright, with no way back to the sellerNoun (f)C2
La forfetización compra la deuda sin derecho de regreso.Forfaiting buys the debt without recourse.
la contragarantíathe promise given to the bank that gave the promiseNoun (f)C2
La contragarantía respalda al banco local.The counter-guarantee backs the local bank.
This list belongs to Money, finance and economy — 16 lists and 800 words that can also be practised as a whole.
Practise this list
From these 50 words, as many per round as you like — up to all of them: first what is due today, then new ones. First you choose, then you fill the gap, then you write it yourself. Mistakes come back again shortly.