Nov 28, 2019 14:11
4 yrs ago
11 viewers *
French term

un compte convertible à terme

French to English Bus/Financial Real Estate sale contract in Morocco
Here is an example that is the same as my context: the sale of a property in Morocco, the notary involved in the sale contract is depositing money in a "un compte convertible à terme", in the seller's name. It appears to be a very specific type of account so I was going to leave it in French, with a brief explanation in brackets. Thanks


S'il n'est pas résident au Maroc, le produit doit être versé dans **un compte convertible à terme** à ouvrir auprès d'une banque au nom du vendeur non résident, après paiement des impôts, taxes et frais dus de la transaction en cause. Règlement en devises à l'étranger
http://www.notaire-marrakech.com/Le-notaire-et-la-reglementa...

Discussion

SafeTex Nov 28, 2019:
@ Julie yes, "à terme" is not easy. Normally, it means interest is paid if you leave your money in but here is seems to be that you can't really use the account unless you reinvest the money in Morocco. "Foreign national resident checking account in convertible Dirhams" describes it perfectly as then all these rules that apply to foreign nationals in Morocco are hopefully tacitly referred to but we are far away from "à terme". Maybe someone else can find the second and last piece to the puzzle?
Julie Barber (asker) Nov 28, 2019:
Yes, as I always do before posting and I didn't find a satisfactory answer in plain English, thanks.
philgoddard Nov 28, 2019:
Have you Googled this? It takes no time to find the answer.

Proposed translations

4 hrs

Checking account in convertible Dirhams

Hello

I'm being lazy here in that I've simply taken the expression from an Arabic bank with pages in English without further ado.
Note from asker:
Thanks, I had seen that one. What do you think about " à terme" here?
Peer comment(s):

neutral philgoddard : You can't ignore "à terme", and I'm not sure it's a checking account.
1 day 18 hrs
Something went wrong...
+1
18 hrs

a convertible Dirhams time-deposit account

The deposit-account element of of checking account looks right, predominantly for US-American or Canadian consumption, whilst the asker's weblink makes no mention of what happens to the interest earned on the account.

If it were a UK: stakeholder or US: escrow account, the interest would go either to the clientor to the Notary cf. certain translation agencies in the habit, after receiving pamynet from the clients, of withholding payment to translators and interpreters for months with the aim of bagging the interest.

The 'term' ending of à terme I take to be a time deposit, rather than by instalments.

The account also bears a resemblance to to the Spanish A- and B-exchange pesetas - inward & outward investment - accounts of old.
Example sentence:

With the BMCE Bank Account in Convertible Dirhams, it is possible for you to make a savings that can be used in Morocco and abroad.

Peer comment(s):

agree philgoddard
1 day 4 hrs
Thanks and merci.
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