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  3. Finance (general)

Cobranza documentaria

English translation: documentary collection

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:cobranza documentaria
English translation:documentary collection
Entered by: Nikki Graham

16:31 Dec 13, 2001
Spanish to English translations [PRO]
Bus/Financial - Finance (general)
Spanish term or phrase: Cobranza documentaria
La documentación de embarque entra en el banco del cliente junto con la letra. El banco gestiona el pago al exterior según las instrucciones recibidas.
Cecilia
documentary collection
Explanation:
Documentary collection is equivalent to COD (cash on delivery) or payment by check. The buyer cannot obtain title to a shipment until it reaches its final destination and is paid for. A bank cover letter is generated by the supplier's bank that accompanies the supplier's shipping documents (purchase order, invoice, bill of lading, shipper's letter of instruction, export license and certificate of origin) to the buyer's overseas bank. The cover letter instructs the buyer's bank on how to remit the funds once received from the buyer and also provides instructions to the bank on when to release the title documents to the buyer, i.e., against payment or against acceptance of a time draft. It may also include information about which party is paying for the charges and provides a channel for the foreign bank to send information back to the buyer if necessary.
(1st ref)

Bill of exchange
The exporter can draw up the draft himself on a specially printed form or on his own headed notepaper, or the bank can do it for him. The person who makes out the bill is called the drawer. The exporter forwards the draft to his bank together with the documents relating to the transaction, as well as a documentary bill lodgement form (also called a letter of instructions or a letter of transmittal) which gives his bank detailed instructions on how to proceed. The exporter tells the bank whether to surrender the documents against payment (D/P, also known as cash against documents, CAD) or on acceptance of the draft (D/A, documents against acceptance). He also states whether the documents are to be presented immediately or after arrival of the goods, whether the importer is allowed to inspect the goods first, how the collection procedures are to be made and what is to be done if the draft is dishonoured, i.e. not paid or not accepted. The person who dishonours a B/E is called a defaulter. The bank receives commission for these services, which are known as documentary collections.
(from my own notes gathered from different sources)

HTH
Selected response from:

Nikki Graham
United Kingdom
Local time: 11:26
Grading comment
Thank you for such a prompt reply!!
Cecilia

4 KudoZ points were awarded for this answer



Summary of answers provided
5 +2Documents collection
Irene Cudich
5 +2documentary collection
Nikki Graham
5 +2Documentary collection
Marian Greenfield
5Collection documentation
Paul Stevens
5Draft or Documentary Collection
Claudia Berison


  

Answers


1 min   confidence: Answerer confidence 5/5 peer agreement (net): +2
Documents collection


Explanation:
none needed


    Experience
Irene Cudich
Local time: 07:26
Native speaker of: Spanish

Peer comments on this answer (and responses from the answerer)
agree  Robert INGLEDEW
13 mins
  -> Thanks, Robert
agree  Alexandra Tussing
30 days
Login to enter a peer comment (or grade)

3 mins   confidence: Answerer confidence 5/5
Collection documentation


Explanation:
HTH

Paul Stevens
Local time: 11:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 19
Login to enter a peer comment (or grade)

9 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
documentary collection


Explanation:
Documentary collection is equivalent to COD (cash on delivery) or payment by check. The buyer cannot obtain title to a shipment until it reaches its final destination and is paid for. A bank cover letter is generated by the supplier's bank that accompanies the supplier's shipping documents (purchase order, invoice, bill of lading, shipper's letter of instruction, export license and certificate of origin) to the buyer's overseas bank. The cover letter instructs the buyer's bank on how to remit the funds once received from the buyer and also provides instructions to the bank on when to release the title documents to the buyer, i.e., against payment or against acceptance of a time draft. It may also include information about which party is paying for the charges and provides a channel for the foreign bank to send information back to the buyer if necessary.
(1st ref)

Bill of exchange
The exporter can draw up the draft himself on a specially printed form or on his own headed notepaper, or the bank can do it for him. The person who makes out the bill is called the drawer. The exporter forwards the draft to his bank together with the documents relating to the transaction, as well as a documentary bill lodgement form (also called a letter of instructions or a letter of transmittal) which gives his bank detailed instructions on how to proceed. The exporter tells the bank whether to surrender the documents against payment (D/P, also known as cash against documents, CAD) or on acceptance of the draft (D/A, documents against acceptance). He also states whether the documents are to be presented immediately or after arrival of the goods, whether the importer is allowed to inspect the goods first, how the collection procedures are to be made and what is to be done if the draft is dishonoured, i.e. not paid or not accepted. The person who dishonours a B/E is called a defaulter. The bank receives commission for these services, which are known as documentary collections.
(from my own notes gathered from different sources)

HTH


    Reference: http://www.cocoexchange.com/html/TradeFinance.asp
    Reference: http://www.google.com/search?hl=es&q=%22documentary+collecti...
Nikki Graham
United Kingdom
Local time: 11:26
Native speaker of: English
PRO pts in category: 80
Grading comment
Thank you for such a prompt reply!!
Cecilia

Peer comments on this answer (and responses from the answerer)
agree  Claudia Berison
4 mins
agree  Alexandra Tussing
30 days
  -> Thanks to both
Login to enter a peer comment (or grade)

10 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
Documentary collection


Explanation:
That's the standard phrase in commercial English.

The shipping documents are received by the client's bank with the draft. The bank handles the foreign payment according to the instructions received.


    20 years of experience as a financial translator
Marian Greenfield
Local time: 06:26
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1528

Peer comments on this answer (and responses from the answerer)
agree  Claudia Berison
2 mins
agree  Alexandra Tussing
30 days
Login to enter a peer comment (or grade)

12 mins   confidence: Answerer confidence 5/5
Draft or Documentary Collection


Explanation:
Check the reference below and you will find difinitions and explanations in both languages.


    Reference: http://www.latintrade.com/newsite/content/finance/types/ddde...
Claudia Berison
Local time: 07:26
Native speaker of: Spanish
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