Jan 26, 2020 14:16
5 yrs ago
41 viewers *
Italian term
United Kingdom
ItaEng bilingual
Native in: Italian 
, English
Works in: Italian to English, English to Italian
firmare per traenza/per girata all'incasso
Italian to English
Bus/Financial
Finance (general)
checques
Hello,
I know the terms "traenza" and "girata" have been asked before and I have seen the term "assegno di traenza" translated into "drawing cheque" (a term that doesn't seem to get any hits elsewhere) and, though I know that "girare un assegno" means to "endorse a checque", the meaning of the two phrases is still a bit unclear to me, mainly because my knowledge of banking terms is superficial to say the least.
The full expressions, in the context of powers vested in the company's CEO, are: "firmare per traenza assegni di conto corrente fino a concorrenza della liquidita' giacente", and "firmare per girata all'incasso assgni di conto corrente bancario".
If it helps, this is an explanation I found on "assegni di traenza":
"Italian banks, on the instructions of large commercial clients, issue special cheques called "assegni di traenza." They can have an expiry date of 60, 90 or 120 days, are non transferable, and are sent by mail directly to the beneficiary in place of a wire transfer. They may be considered a hybrid between cheques and bank drafts".
From what I can gather (albeit based on the above lack of knowledge) is that the first refers to signing checks to draw funds (from the company's current account), and the second is to sign checks to cash payments (into the company's current account). Is this correct? Ignorance ain't bliss.
Thank you!
I know the terms "traenza" and "girata" have been asked before and I have seen the term "assegno di traenza" translated into "drawing cheque" (a term that doesn't seem to get any hits elsewhere) and, though I know that "girare un assegno" means to "endorse a checque", the meaning of the two phrases is still a bit unclear to me, mainly because my knowledge of banking terms is superficial to say the least.
The full expressions, in the context of powers vested in the company's CEO, are: "firmare per traenza assegni di conto corrente fino a concorrenza della liquidita' giacente", and "firmare per girata all'incasso assgni di conto corrente bancario".
If it helps, this is an explanation I found on "assegni di traenza":
"Italian banks, on the instructions of large commercial clients, issue special cheques called "assegni di traenza." They can have an expiry date of 60, 90 or 120 days, are non transferable, and are sent by mail directly to the beneficiary in place of a wire transfer. They may be considered a hybrid between cheques and bank drafts".
From what I can gather (albeit based on the above lack of knowledge) is that the first refers to signing checks to draw funds (from the company's current account), and the second is to sign checks to cash payments (into the company's current account). Is this correct? Ignorance ain't bliss.
Thank you!
Proposed translations
(English)
| 3 +1 | sign for (payee's) drawdown/ for collection endorsement (-over to oneself) |
Adrian MM.
|
Proposed translations
+1
8 hrs
Adrian MM.
Austria
Austria
Native in English
Specializes in field
Austria
Retd.T&I, Barrister & Austro-Advokat
Native in: English (Variants: British, Scottish)
Works in: Spanish to English, English to Spanish, French to English, and 6 more.
Related KudoZ points
:
77
sign for (payee's) drawdown/ for collection endorsement (-over to oneself)
Declined
My first thought for "assegno di traenza" had in fact been a 'banker's draft'.
Drawdown implies drawing of the money order proceeds, current account funds or otherwise of a credit facility.
The label of non-transferable - from my distant recollection of negotiable instruments as part of UK commercial law - seems to make en/in/dorsement of a 'non-negotiable-instrument' somewhat contradictory, unless the payee (beneficiary) is endorsing over said order to him-/her-/itself for collection.
Otherwise, as per Shabelula in the discussion entries.
.
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Note added at 9 hrs (2020-01-26 23:56:56 GMT)
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PS warrant in one ProZ answer for assegno di traenza:
In financial transactions, a warrant is a written order from a first person that instructs a second person to pay a specified recipient a specific amount of money or goods at a specific time. The warrant *may or may not be negotiable* and may authorize payment to the warrant holder on demand or after a maturity date. en.wikipedia.org/wiki/Warrant_(of_Payment)
Drawdown implies drawing of the money order proceeds, current account funds or otherwise of a credit facility.
The label of non-transferable - from my distant recollection of negotiable instruments as part of UK commercial law - seems to make en/in/dorsement of a 'non-negotiable-instrument' somewhat contradictory, unless the payee (beneficiary) is endorsing over said order to him-/her-/itself for collection.
Otherwise, as per Shabelula in the discussion entries.
.
--------------------------------------------------
Note added at 9 hrs (2020-01-26 23:56:56 GMT)
--------------------------------------------------
PS warrant in one ProZ answer for assegno di traenza:
In financial transactions, a warrant is a written order from a first person that instructs a second person to pay a specified recipient a specific amount of money or goods at a specific time. The warrant *may or may not be negotiable* and may authorize payment to the warrant holder on demand or after a maturity date. en.wikipedia.org/wiki/Warrant_(of_Payment)
Example sentence:
If you are the recipient of a money order, you'll need to sign it to cash it.
Collection endorsement is one that restricts payment of the endorsed instrument to purposes of deposit or collection.
Reference:
http://www.proz.com/kudoz/italian-to-english/finance-general/4056718-assegni-di-traenza.html
Peer comment(s):
| agree |
Vittorio Preite
: signed for collection. An assegno di traenza is a "normal cheque" with a time validity and is only payable to the payee. i.e. never endorseable.
2 days 22 hrs
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grazie di nuovo and thanks de novo! // According to the first Proz weblink, it has been stamped 'warrant' in English front & back: https://www.proz.com/kudoz/italian-to-english/finance-genera...
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Discussion
I do wonder, however, if, rather than referring to a specific type of cheque (assegno di traenza), the writer actually meant "sign cheques drawn on the company's current account" (per traenza = to draw funds), and that's why it sets the limit of the company's available balance.
Is that a possibility?
Thank you again!
I do wonder, however, if, rather than referring to a specific type of cheque (assegno di traenza), the writer actually meant "sign cheques drawn on the company's current account" (per traenza = to draw funds), and that's why it sets the limit of the company's available balance.
Is that a possibility?
Thank you again!
I do wonder, however, if, rather than referring to a specific type of cheque (assegno di traenza), the writer actually meant "sign cheques drawn on the company's current account" (per traenza = to draw funds), and that's why it sets the limit of the company's available balance.
Is that a possibility?
Thank you again!
I do wonder, however, if, rather than referring to a specific type of cheque (assegno di traenza), the writer actually meant "sign cheques drawn on the company's current account" (per traenza = to draw funds), and that's why it sets the limit of the company's available balance.
Is that a possibility?
Thank you again!
the beneficiary will sign it twice as you can read in the link above. Once as an order to draw the money (the issuer's signature does not appear on the cheque).
The second "firma per girata all'incasso" could be another signature on the same cheque, as an endorsement to authorise the collection (what you usually do when you issue a cheque to yourself for cashing or endorse a cheque as beneficiary at the front desk). Hope it helps