Glossary entry

Spanish term or phrase:

por el número de días que transcurran desde la fecha

English translation:

by the number of days elapsed from the date

Added to glossary by Robert Forstag
Jul 27, 2010 04:02
13 yrs ago
14 viewers *
Spanish term

por el número de días que transcurran desde la fecha

Spanish to English Law/Patents Law: Contract(s) Contract // Mexico // Description of how late interest penalty is determined
Does whomever drafted this contract intend to say the calculation in question should be based on a "division" by the "number of days"?

Once again, thanks.

Si Banco XYZ no hiciere entrega al Cliente de las cantidades recibidas en el plazo señalado en esta cláusula, Banco XYZ pagará al Cliente interés moratorios a razón de la conatidad que resulte aplicar, al saldo insoluto de los Derechos de Cobro de que se trate, la tasa de interés interbancaria de equilibrio a plazo de 28 días, o en caso de caer en día inhábil el término de dicho plazo, el 26, 27, ó 29 días, determinada por el Banco de México y publicada en el Diario Oficial de la Federación, el Día Hábil inmediato anterior a la fecha de pago (TIIE) más dos punto cinco puntos, por el número de días que transcurran desde la fecha en la que Banco XYZ debió haber entregado el Derecho de Cobro y la fecha en que el Cliente reciba el pago del mismo y el resultado anterior se divide entre 360, siendo éste último resultado la cantidad a pagar.
Proposed translations (English)
3 +3 by the number of days elapsed from the date

Discussion

Cinnamon Nolan Jul 27, 2010:
Multiplied by Hi, Robert. It's a penalty, a special high interest. First you determine the interest rate, then you multiply by the number of days the bank has been in arrears. The longer the bank has delayed paying, the more it has to pay.

Proposed translations

+3
8 mins
Selected

by the number of days elapsed from the date

I think it is the multiplication of the amount owed by the percentage rate (including the 2.5% penalty), by the number of days divided by 360


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Note added at 34 mins (2010-07-27 04:37:22 GMT)
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I think it is multiplied by the number of days. Try a sample calculation, see what happens.

Search for 360 in this document to see similar calculations:

http://www.gofutures.com/pdfs/getting_started_interest_rates...
Note from asker:
It seems you are on the right track. But do you mean "divided by the number of days". If not, how does "number of days" fit in here? (Thanks!)
Peer comment(s):

agree Cinnamon Nolan : Yes. It's multiplied by.
1 hr
Gracias!
agree Fabian Deckwirth
6 hrs
Gracias!
agree James A. Walsh
6 hrs
Gracias!
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "And, David, thanks once again. Thanks also to Cinnamon for her useful comment."
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