Glossary entry

Spanish term or phrase:

dólares convenio

English translation:

clearing dollars

Added to glossary by 3qs
Aug 14, 2018 00:24
5 yrs ago
7 viewers *
Spanish term

dólares convenio

Spanish to English Bus/Financial Finance (general) DIVISAS TIPO DE CAMBIO
CONTEXTO:

17.- El Banco estará facultado a entregar al Solicitante los documentos
contra deposito provisional en cuyo caso el Solicitante deberá :1) pagar al
Banco cualquier diferencia que se produzca entre el deposito efectuado y
el importe de las liquidaciones definitivas o parciales, 2) aumentar el
deposito provisional al primer requerimiento del Banco 3) admitir que la
liquidación definitiva se efectúe al cambio libre en divisas de libre
convertibilidad y/o en dólares convenio según corresponda acorde con las
disposiciones vigentes para estas operaciones.
En el supuesto que el Banco entregase los documentos al Solicitante , sin
que el mismo hubiese efectuado en ese acto el pago definitivo , los
documentos le serán entregados en calidad de depositarios de confianza
de la mercadería en nombre del Banco hasta tanto el Solicitante no abone
el valor facturado más gastos e intereses si correspondieren.

Son las condiciones generales de un crédito documentario otorgado en Argentina.
Muchas gracias.

Proposed translations

+2
1 hr
Selected

clearing dollars

This seems to be the most common English equivalent, though apparently they are also called accounting dollars, agreement dollars or offset dollars:

"accounting dollar; agreement dollar; clearing dollar; offset dollar;
dólar de compensación; dólar de convenio; dólar de cuenta"
Glosario de términos econónimos, ed. Jennifer Cooper
https://books.google.es/books?id=U2UsWWQkp7QC&pg=PA2

"The settlement rate represents the doubled official rate adjusted for the disparity of the foreign exchange concerned. The settlement rates, accordingly, vary round the level of Dinars 600 to one offset (clearing) dollar. "
https://docs.wto.org/gattdocs/q/GG/L999/962.PDF

"Brasil hizo cámara de compensacion con la Europa comunista en los años 60, se creó una moneda llamada dólar-convenio y se hacían compensaciones a los fines de cada período."
https://www.lanacion.com.ar/452492-el-analista-economico-bra...

"Dólar-convênio: Tradução em inglês
Clearing dollar"
https://dicionario.leyderecho.org/dolar-convenio/

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Note added at 4 days (2018-08-18 19:01:20 GMT)
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Hi. I'm sorry to have taken a while to get back to you.

I am not an expert on finance and I'm not sure of all the details, but this has to do with international trade agreements between countries: that's what "convenio" refers to. These "convenios" can be bilateral or multilateral. A prime example is the Reciprocal Payments and Credits Agreement (Convenio de Pagos y Créditos Recíprocos: CCR) of the The Latin American Free Trade Association (Asociación Latinoamericana de Libre Comercio: ALALC), created by the Treaty of Montevideo in 1960; it later became the Latin American Integration Association (Asociación Latinoamericana de Integración: ALADI).
https://es.wikipedia.org/wiki/Asociación_Latinoamericana_de_...

The point is that international trade is conducted in US dollars: countries pay each other for goods in dollars. So in a situation where the countries' currencies are weak and they may have trouble finding enough hard currency to cover their payments, they set up a credit line. Here's the relevant clause of the CCR:

"On the basis of the procedures set forth by the Agreement, each central bank establishes with each of the others within the System, a reciprocal credit line expressed in United States dollars which varies from case to case, in conformity with the importance of the commercial flows established among their respective countries. Currently, all central banks member have bilateral credit lines which are in force and operative. Said "credit lines" allow for the channelling of payments among members, covering the daily balances between two Central Banks."
http://www.aladi.org/nsfaladi/convenio.nsf/75aeebe15e44a3590...

What they do is establish a "dólar convenio" for the purposes of the agreement, a dollar with an agreed value for accounting purposes, known as a "clearing dollar" in English. They they balance their accounts in these dollars, which are priced at a lower exchange rate than free-market dollars.

"Countries short of hard currencies frequently enter into bi-lateral agreements covering trade between them in certain goods, with provisional payment to be made through accounting entries [...] The unit of payment in these trade agreements is a. "dollar of account", a theoretical clearing dollar which has an actual value less than that of the U. S. dollar, because of its very limited convertibility. Clearing dollars are traded, i.e., purchased and sold by traders, at discounts under the U. S. dollar; this discount comes about because they must ultimately be used for the acquisition of goods from a debtor country which is a party to the clearing agreement."
http://forum.avijacija.mk/viewtopic.php?f=11&t=6175&hilit=pa...

I hope this helps!
Note from asker:
Thank your very much! Could you please tell the meaning of the term "dolares convenio" = "clearing dollars"? I'll appreciate it very much.
Muchas gracias Charles por tu respuesta!
Peer comment(s):

agree JohnMcDove
1 hr
Gracias, John ;-) Esto es un atrevimiento, porque de finanzas entiendo cuánto tengo en la cuenta corriente y poco más.
agree lorenab23 : Great references as usual, un abrazo!
2 hrs
Thanks, Lorena :-) Y otro pa' ti!
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4 KudoZ points awarded for this answer.
1 hr

clearing dollar

Looking on Google there were mainly Portuguese references to

'dólar-convênio'

Found 'clearing dollar' in a Portuguese Glossar:

https://www.proz.com/personal-glossaries/entry/2373534-clear...

However, there are other references to 'dolar convenio' from Argentina

'Para la conversión de los dólares Convenio Argentino-Brasileño
a cruzeiros

http://tratados.mrecic.gov.ar/tratado_archivo.php?tratados_i...
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