Glossary entry

Spanish term or phrase:

la cuenta bancaria debidamente informada y certificada

English translation:

The bank account duly notified and certified

Added to glossary by Ruth Ramsey
Feb 18 19:57
2 mos ago
29 viewers *
Spanish term

la cuenta bancaria debidamente informada y certificada

Spanish to English Law/Patents Law: Contract(s) Financial Intermediary Agreement
Financial Intermediary Agreement (Colombia)

I'm happy with the first part of the phrase "duly informed bank account" but I'm not 100% sure what they mean by "certificada" here.

Does it mean the account that is registered to the Adviser's name or that the Adviser (the recipient) acknowledges that this is its account?

Many thanks in advance.

"Las partes acuerdan que el pago de la contraprestación..... se realizará mediante trasnferencia electrónica a la cuenta bancaria debidamente informada y certificada por el Asesor...."

Discussion

Toni Castano Feb 20:
@Ruth Ramsey With all due respect, Ruth. I shall never understand why you always address your queries to specifically " native speakers of English". Of course, I respect your decision (and shall never post any suggestion), but I do not understand your standpoint, and I firmly believe it is the wrong approach.
Eileen Brophy Feb 19:
The account could be certified by giving the bank account number and the owner's name of the bank account, plus the fact that if it is in a Spanish country, a personal ID number must also be included, consequently, it would be certified, or there may be a document signed by the account owner and advisor.
Ruth Ramsey (asker) Feb 19:
Hi Phil, I wondered about that as well, so along the line of "evidenced".
philgoddard Feb 18:
I wonder if 'certificada' means they've provided evidence that it belongs to them, such as a statement. I'm not sure 'certified' conveys a clear meaning.

Proposed translations

25 mins
Selected

The duly notified and certified bank account by the advisor

"Por el asesor" means by the advisor, so this is how I would translate the text:

"shall be made by electronic transfer to the bank account duly notified and certified by the Advisor....".

--------------------------------------------------
Note added at 33 mins (2024-02-18 20:30:42 GMT)
--------------------------------------------------

Certified could mean registered Ruth
Note from asker:
Thanks Eileen. I'm wondering what it actually means for an account to be certified.
Peer comment(s):

neutral philgoddard : See my comment re 'certified'. Also, the word order is wrong in your first version, but not your second.
3 hrs
Something went wrong...
3 KudoZ points awarded for this answer. Comment: "Thanks Eileen. I went with what you suggested in your explanation."
-1
55 mins

the relevant and explanatory bank account which is certified

The parties (groups) agree that the payment in consideration is made by electronic transfer to the relevant and explanatory bank account which is certified by the financial consultant.

In economic law, the consideration is 'the price paid in exchange for the fulfilment of a promise. The court defined consideration as a right, interest, profit, detriment, loss or responsibility. Anything of value that is promised by one party to another can be a consideration. If a person makes an offer to another without any consideration the contract is not binding legally.'
https://corporatefinanceinstitute.com/resources/valuation/co...

--------------------------------------------------
Note added at 1 hr (2024-02-18 20:57:43 GMT)
--------------------------------------------------

A certified bank account is one which has a copy of an original statement or document and it's approved by a professional in authority such as a solicitor or a financial consultant.
https://www.gov.uk/certifying-a-document

--------------------------------------------------
Note added at 1 hr (2024-02-18 21:56:24 GMT)
--------------------------------------------------

The bank statement of account is explanatory since it shows any activity (transactions etc).
Peer comment(s):

neutral ormiston : What is an explanatory bank account ?!
55 mins
disagree AllegroTrans : What is an explanatory bank account ?!
18 hrs
Something went wrong...
4 hrs
Spanish term (edited): la cuenta bancaria debidamente informada y certificada por el Asesor

such bank account as has been duly reported + certified by the Adviser/or > as genuine + for tax ID

-> so for tax withholding purposes, as 'UK and US accountants ought to have picked up on' - see the second weblink and applicable nine times out of ten world-wide.

--------------------------------------------------
Note added at 4 hrs (2024-02-19 00:42:57 GMT)
--------------------------------------------------

The second, repeated example sentence ought to have read: 'Certificate of Registration of the Chamber of Commerce: This requirement allows you to know the type of legal entity set up. With this document, the bank will identify its *legal representatives* and the bylaws. '
Example sentence:

El certificado de titularidad bancaria es un documento que emite el banco a petición del cliente y que confirma que dicha cuenta está registrada a su nombre.

El certificado de titularidad bancaria es un documento que emite el banco a petición del cliente y que confirma que dicha cuenta está registrada a su nombre.

Something went wrong...
19 hrs

the said duly notified and certified bank account

,>
Something went wrong...
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search