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  3. Law: Contract(s)

con cargo a los derechos de cobro

English translation: charged against the receivables

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:con cargo a los derechos de cobro
English translation:charged against the receivables
Entered by: Richard Vranch

15:34 Oct 20, 2014
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s)
Spanish term or phrase: con cargo a los derechos de cobro
d) 4.000.000 miles de euros para garantizar, de acuerdo con lo establecido en la disposicion adicional vigesima primera. 9 de la Ley 54/1997, de 27 de noviembre, del Sector Electrico, las obligaciones economicas exigibles al Fondo de Titulizacion del Defecit del Sistema Electrico, derivadas de las emisiones de instrumentos financieros que realice dicho fondo ****con cargo a los derechos de cobro**** que constituyan el activo del mismo."

perdido en el BOE...
Richard Vranch
Local time: 11:23
charged against the receivables
Explanation:
Here's an explanation of what the fund does:

"This transaction is a securitisation of credit receivables attributed to certain Spanish utility companies and recognised by Spanish government royal decree. The securitisation allows the utility companies to obtain compensation for shortfalls in the settlement of their regulated activities in the electricity market ("tariff deficit"). The tariff deficit is the difference between the costs incurred to supply the power and the regulated tariffs charged to the end users. The compensation is considered a fixed cost and a fixed amount is added to the electricity bills of the consumers in order to cover this deficit over the next 15 years. The Spanish markets regulator (La Comisión Nacional de los Mercados y de la Competencia) sets, administers and receives these amounts and passes them on to the specified utilities companies."

The previous question I've cited below translates it as "right to receivables", which is a tautology, as receivables are are a right.

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Note added at 1 hr (2014-10-20 16:50:55 GMT)
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Actually I've just discovered that we've had both "con cargo a" and "derechos de cobro" before. Richard should have checked the glossary, and so should I :-)
Selected response from:

philgoddard
United States
Grading comment
Thanks Phill!
4 KudoZ points were awarded for this answer



Summary of answers provided
4charged against the receivables
philgoddard
4charged with or responsable for the collection rights
TravellingTrans
3out of such rights of recovery as
Adrian MM. (X)


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
charged against the receivables


Explanation:
Here's an explanation of what the fund does:

"This transaction is a securitisation of credit receivables attributed to certain Spanish utility companies and recognised by Spanish government royal decree. The securitisation allows the utility companies to obtain compensation for shortfalls in the settlement of their regulated activities in the electricity market ("tariff deficit"). The tariff deficit is the difference between the costs incurred to supply the power and the regulated tariffs charged to the end users. The compensation is considered a fixed cost and a fixed amount is added to the electricity bills of the consumers in order to cover this deficit over the next 15 years. The Spanish markets regulator (La Comisión Nacional de los Mercados y de la Competencia) sets, administers and receives these amounts and passes them on to the specified utilities companies."

The previous question I've cited below translates it as "right to receivables", which is a tautology, as receivables are are a right.

--------------------------------------------------
Note added at 1 hr (2014-10-20 16:50:55 GMT)
--------------------------------------------------

Actually I've just discovered that we've had both "con cargo a" and "derechos de cobro" before. Richard should have checked the glossary, and so should I :-)



    https://www.moodys.com/research/Moodys-Assigns-Provisional-Ratings-to-Fondo-de-Titulizacion-del-Deficit--PR_293619
    Reference: http://www.proz.com/kudoz/spanish_to_english/law_patents/156...
philgoddard
United States
Native speaker of: English
PRO pts in category: 493
Grading comment
Thanks Phill!
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49 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
charged with or responsable for the collection rights


Explanation:
los derechos de cobro = collection rights, the right to collect on a debt or from a debtor, cargo = in this case having the job of doing

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Note added at 9 hrs (2014-10-21 00:40:10 GMT)
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the amount of euros is guaranteeing, in accordance with what is established in the law, the economic obligations that the Fund is liable for which are derived from the issuing of financial instruments by the same fund (set off against) the rights of collection that constitute the asset of the same

so I might actually modify my answer though it equates to the same concept that the obligations are being covered by the right to collect on debt owed and I was initially trying to say that the Fund is given the right to collect which is what it is basing its offset on (calling it an asset) of the 4,000,000 euros to provide a guarantee

or simply, the 4,000,000 was derived from issuing financial instruments offset against the right to collect, this right to collect is being considered an asset and is being used to guarantee the obligations

or else I'm missing something ;)

TravellingTrans
United States
Native speaker of: English
PRO pts in category: 8

Peer comments on this answer (and responses from the answerer)
neutral  philgoddard: No, "con cargo a" means "chargeable against".
26 mins
  -> it does when talking about an account or credit card, but since derechos de cobrar is about the right to collect and not just receivables which are the debts owed in and of themselves, see above since I'm out of room, though I'm not necessarily right
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2 days 14 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
out of such rights of recovery as


Explanation:
...made by said funds out of...: works better syntactically than 'chargeably to..'

Quaere: choses in action. Def. not severance pay entitlements here.

Example sentence(s):
  • Chose in Action. The right to bring a lawsuit to recover chattels, money, or a debt.

    Reference: http://www.proz.com/kudoz/spanish_to_english/law_patents/508...
Adrian MM. (X)
Local time: 12:23
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 547
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