(lettre de crédit) "payable à vue ouverte"

English translation: payable on demand

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:(lettre de crédit) \"payable à vue ouverte\"
English translation:payable on demand
Entered by: Jenny Duthie

11:47 Jul 1, 2020
French to English translations [PRO]
Bus/Financial - Transport / Transportation / Shipping / supplies contract
French term or phrase: (lettre de crédit) "payable à vue ouverte"
could this be (letter of credit) "payable on opening"? or "payable once opened"? Thanks in advance!

Here is the full paragraph, for info:

ARTICLE 08 : MODALITES DE PAIEMENT
L'acheteur s'acquittera des sommes dues au titre du présent contrat, comme suit :
Paiement 100% par lettre de crédit irrévocable et confirmée payable à vue ouverte auprès de la banque du Vendeur 30 jours avant la date de la livraison, dune validité de 03 mois, contre la remise des documents suivants :
/ Factures originales définitives (06 exemplaires).
/ Connaissement maritime.
/ Certificat de conformité.
/ Certificat d'origine.
/ Certificat de contrôle de qualité.
/ EXA ou EX1
/ Eurl
/ Liste de colisage en deux exemplaires.
Jenny Duthie
France
Local time: 10:21
payable on demand issued by the Seller's bank
Explanation:
"vue" means bank demand here
Selected response from:

Elena Skokova
France
Local time: 10:21
Grading comment
I would just say "payable on demand", thanks!
4 KudoZ points were awarded for this answer



Summary of answers provided
4payable on demand issued by the Seller's bank
Elena Skokova
4sight letter of credit
Francois Boye


Discussion entries: 3





  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
(lettre de crédit) \\\"payable à vue ouverte\\\"
payable on demand issued by the Seller's bank


Explanation:
"vue" means bank demand here


    Reference: http://https://www.quora.com/Who-pays-the-cost-of-a-letter-o...
Elena Skokova
France
Local time: 10:21
Specializes in field
Native speaker of: Native in RussianRussian
PRO pts in category: 4
Grading comment
I would just say "payable on demand", thanks!

Peer comments on this answer (and responses from the answerer)
neutral  Daryo: you should correct the parsing before answering - you made it look as if "Seller's bank" is the one asking for payment, while in fact they are the Bank doing the payment.
37 mins
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3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
sight letter of credit


Explanation:
A sight letter of credit refers to a document that verifies the payment of goods or services, payable once it is presented along with the necessary documents.

This type of letter of credit is payable to the beneficiary once the required documents are presented to the financial institution backing the letter.

Sight letters of credit give each party involved in the transaction some degree of protection and decreases some of the risk involved with business, especially when it comes to international dealings.

A sight letter of credit involves three parties including the buyer, the issuing bank, and the seller

Source: https://www.investopedia.com/terms/s/sightletterofcredit.asp





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Note added at 11 hrs (2020-07-01 23:44:37 GMT)
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'lettre de crédit irrévocable et confirmée payable à vue ouverte auprès de la banque du Vendeur' = irrevocable letter of credit that is confirmed at sight and is backed by the seller's bank

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Note added at 1 day 3 hrs (2020-07-02 15:25:47 GMT)
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Another translation:

'lettre de crédit irrévocable et confirmée payable à vue ouverte auprès de la banque du Vendeur' = irrevocable, sight letter of credit with the backing of the seller's bank

This second translation is based on the fact that a sight letter of credit is both payable at sight and backed by a bank.

Francois Boye
United States
Local time: 05:21
Native speaker of: Native in FrenchFrench
PRO pts in category: 8
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