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This glossary is the same one you find in Help inside Velyti. Each term shows its short definition, the official Colombian term when it differs, and the legal source where the app cites one.
The same glossary inside the app, under Help.

The same glossary inside the app, under Help.

For how the paperwork works step by step, see Procedures; for how the figures are read, see the Dashboard and Reports.

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Procedures

What is filed with the transit agency so that it records a change to the vehicle, such as an ownership transfer or a lien release. It is prepared here, filed there, and then waits for an answer.Official term: Trámite
The mobility or transit office where the vehicle is registered. Its procedures are filed there.Official term: Organismo de tránsito
Whoever the vehicle’s registration certificate names as owner (section 21 of the RUNT form). It can be the dealership or a client.Official term: Propietario inscrito
The transport company a public-service vehicle is linked to. It appears on the registration certificate and is printed on the RUNT form.Official term: Empresa vinculadora
An engine, chassis or serial number engraved again, with authorization, because the original was erased or damaged. The RUNT form marks it.Official term: Regrabado
The purchase leaves the vehicle in the registered owner’s name until it is sold. At the sale, only the buyer’s data is printed over.Official term: Traspaso abierto
A security registered in favour of a creditor, such as a bank. To transfer, the lien must be released or authorized by the creditor.Official term: Prenda
Filing is presenting the procedure to the transit agency; the filing number is what it gives on receiving it. From then on it waits for approval or rejection.Official term: Radicación
The person who handles the procedure at the transit agency on behalf of the owner or the buyer, with a signed power of attorney.Official term: Apoderado
The document with which the owner or the buyer authorizes an attorney to handle the procedure on their behalf at the transit agency.Official term: Poder especial amplio y suficiente
The official form used to request a vehicle procedure at the transit agency. It is signed by the seller and the buyer, or their attorneys.Official term: Formulario de Solicitud de Trámites del Registro Nacional AutomotorSource: Resolución 20223040045295 de 2022, anexo 46
Monday to Friday, without Colombian holidays. That is how procedure terms are counted.Official term: Días hábilesSource: Ley 769 de 2002, art. 47; Ley 51 de 1983
The transfer must be registered within 60 working days of the purchase. After that, the procedure is overdue.Official term: Plazo para inscribirSource: Ley 769 de 2002, art. 47
What the transit agency asks for to accept the procedure: signed documents, payments and engravings. While any is missing, the procedure cannot be filed.Official term: Requisitos

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Documents

In an open transfer, the contract the registered owner signs with the buyer left blank. At the sale, the buyer’s data is printed over it.Official term: Contrato de compraventa (propietario inscrito)

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Deals

How the vehicle passes to the dealership: into its name, with a transfer filed at once, or as an open transfer, in the registered owner’s name until it is sold. Either way the 60-working-day term runs from the purchase.Official term: Modalidad de traspaso
The dealership’s person who files procedures at the transit agency, with the owner’s or the buyer’s power of attorney. If the buyer files, they carry the papers themselves.Official term: Tramitador
What whoever breaches the contract pays the other party. Velyti suggests a percentage of the price and does not let it exceed the price.Official term: Cláusula penalSource: Código de Comercio, art. 867
What restricts the vehicle’s ownership: a lien, a seizure or another registered limitation. It is printed on the contract as written.Official term: Limitaciones a la propiedad

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Lot and inventory

Everything not sold yet: available, reserved, in maintenance or inactive. A sold vehicle leaves the lot.Official term: En patio
Days since the vehicle came in with its purchase; when it sells, the clock stops. At 30 days review the price, at 60 adjust it, at 90 management reviews it and at 180 it is liquidated.Official term: Días en patio
Five bands: up to 30 days, up to 60, up to 90, up to 180 and over 180. Each band’s colour is the same on the bar, the map and the table.Official term: Tramos de días en patio
What everything unsold is worth at sale price, inactive units included. It is not the cost, nor a loss.Official term: Capital en patio
The typical unit should sell within 45 days on the lot: the lot’s median is compared with that target.Official term: Meta de rotación
How the lot splits by status; each part opens its list, and the bar draws them to scale.Official term: Composición del inventario
One square per unit on the lot, coloured by its days on lot; the oldest at the back. The table beside it gives the figures.Official term: Mapa del patio

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Margin and money

(Sale price − cost) ÷ cost. The ruler’s tall mark is the 20% target; red with a minus sign is a loss.Official term: Margen sobre costo
(Sale price − cost) ÷ sale price: the share of the price kept as profit. It is always lower than the margin over cost.Official term: Margen sobre precio de venta
Sale price minus cost, in pesos, before expenses and taxes.Official term: Utilidad bruta
The margin over cost sought on every sale: 20%. It is the ruler’s tall mark.Official term: Meta de margen
What the period’s completed sales left: price minus the cost of those units. It leaves out expenses and what is still on the lot.Official term: Margen bruto

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Dashboard and reports

A running period is compared with the same stretch of the previous one: day 1 to the same day, not the whole month.Official term: Al mismo corte
Today’s month is not over: its figures run to today, and the pace is drawn up to today.Official term: Mes en curso
Units sold in the month divided by those on the lot: the share of the lot that sold.Official term: Rotación mensual
How many days what is on the lot would take to sell at the period’s sales pace, buying nothing more.Official term: Días de inventario
Revenue minus investment since the start. It includes what is on the lot, so in a buying period it is negative without being a loss.Official term: Flujo neto de caja

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Forecast

A brand and line with enough sales history to forecast, such as «Mazda CX-5».Official term: Segmento
How many months of expected sales what is on the lot covers. The ruler reaches 6 months; its tall marks are where the recommendation changes.Official term: Cobertura
Between how much and how much is expected to sell: 8 times in 10 real sales fall inside.Official term: Rango de la predicción
«Restock» if the lot does not reach even the range’s low end; «Surplus» if it exceeds even the high end; «Covered» if it falls inside.Official term: Recomendación
The best free forecast: repeat the last month or the average of the last three. A model that does not beat it adds nothing.Official term: Referencia ingenua
How wrong the model was on sales already past: the lower the error, the more reliable the forecast.Official term: Calidad del modelo

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Requirements checklist

These are the requirements a procedure can carry, as the app words them.
The compulsory traffic accident insurance (SOAT), valid on the day of filing. An insurer issues it; its validity is checked in the RUNT.
The technical and emissions inspection certificate, valid once the vehicle’s age requires it. A vehicle inspection centre issues it, and it is checked in the RUNT.
The certificate that the owner owes no traffic fines. It is downloaded from SIMIT, the national system of traffic fines and penalties.
The certificate that the buyer owes no traffic fines. It is downloaded from SIMIT, the national system of traffic fines and penalties.
The vehicle tax paid up to the current year. The department where the vehicle is registered collects it, and it is checked there.
The withholding tax on the sale price, when the law requires it. It is paid at the bank and the transit agency asks for the receipt.
Rubbings of the engine, chassis and serial numbers taken from the vehicle, or the QR code some agencies accept instead.
The purchase contract signed by the parties. Velyti ticks it on its own once the signed scan of the contract transferring the vehicle to the buyer is uploaded, and unticks it if that scan is deleted.
If the vehicle has a lien or limitation, it must be released or the creditor must authorize the transfer. Velyti ticks it on its own once the vehicle has no standing lien or limitation.
The seller and the buyer must be registered in the RUNT as persons. Registration is done at a transit agency and checked in the RUNT.
The document with which the lien’s creditor declares it paid or authorizes its release. The bank or finance company the lien favours issues it.