ProZ.com global directory of translation services
 The translation workplace
Ideas
KudoZ home » Dutch to English » Law: Contract(s)

kredietbeperkingstoeslag

English translation: Late Payment Surcharge


Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Dutch term or phrase:kredietbeperkingstoeslag
English translation:Late Payment Surcharge
Entered by: Johan Venter
Options:
- Contribute to this entry
- Include in personal glossary

20:33 Sep 6, 2005
Dutch to English translations [PRO]
Law/Patents - Law: Contract(s)
Region (target): English (United Kingdom)
Dutch term or phrase: kredietbeperkingstoeslag
Is there perhaps a standard term for kredietbeperkingstoeslag in English? I think that this is a standard term and context is not needed, but I'll provide it anyways, just in case:

Indien een factuur na het verstrijken van de in lid 1 bedoelde termijn niet volledig is betaald:

A. zal vanaf dat tijdstip aan de wederpartij een **kredietbeperkingstoeslag** ter grootte van 2% in rekening worden gebracht, zonder dat hiertoe een nadere ingebrekestelling zal zijn vereist
Johan Venter
Local time: 07:44
Credit limitation surcharge
Explanation:
The references below are from Dutch sites:

E.g.

" Article 15: Limitation of credit

MSS shall be entitled to apply a two per cent credit-limitation surcharge, which however shall not be payable if payment is received within the specified number of days from the date of the invoice. "

ref. www.morestage.com/voorwaarden/Rental_Terms_EN.html

"7. User has the possibility to charge a credit limitation surcharge of 2%. This surcharge will not be charged if payment is made within 7 days from the date of invoice."

ref. http://www.wrtbv.com/terms.asp

It could be rephrased as the surcharge due to limited credit

--------------------------------------------------
Note added at 2005-09-06 21:18:51 (GMT)
--------------------------------------------------

There are also references to \"credit restriction surcharges\":

\"The Recovered Paper Company shall be entitled to charge a credit restriction surcharge of at least 2%. This surcharge may be deducted from the invoice amount if the invoice amount is paid within 30 days after the date of the invoice.\"


ref. http://www.cvbecologistics.com/eng/company/conditions

--------------------------------------------------
Note added at 2005-09-06 21:43:45 (GMT)
--------------------------------------------------

The \"English\" equivalent of this is probably a \"late payment surcharge/charge or fee\"

\"
What is a late payment surcharge?

It is a penalty for the late payment of income tax. Any individual or company that has not paid their tax in full by the surcharge date will have 10% added to the sum which remains unpaid at that date. \"

ref. http://www.incometax.gov.je/late_payment_surcharge.asp
Selected response from:

Adam Smith
United Kingdom
Local time: 06:44
Grading comment
Thank you very much. Thank you also to Chris for the good explanation. Given the context I'm positive that in this instance it is only applied to penalties.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1discount for early payment / late payment surcharge
Chris Hopley
3 +2Credit limitation surcharge
Adam Smith


  

Answers


31 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
Credit limitation surcharge


Explanation:
The references below are from Dutch sites:

E.g.

" Article 15: Limitation of credit

MSS shall be entitled to apply a two per cent credit-limitation surcharge, which however shall not be payable if payment is received within the specified number of days from the date of the invoice. "

ref. www.morestage.com/voorwaarden/Rental_Terms_EN.html

"7. User has the possibility to charge a credit limitation surcharge of 2%. This surcharge will not be charged if payment is made within 7 days from the date of invoice."

ref. http://www.wrtbv.com/terms.asp

It could be rephrased as the surcharge due to limited credit

--------------------------------------------------
Note added at 2005-09-06 21:18:51 (GMT)
--------------------------------------------------

There are also references to \"credit restriction surcharges\":

\"The Recovered Paper Company shall be entitled to charge a credit restriction surcharge of at least 2%. This surcharge may be deducted from the invoice amount if the invoice amount is paid within 30 days after the date of the invoice.\"


ref. http://www.cvbecologistics.com/eng/company/conditions

--------------------------------------------------
Note added at 2005-09-06 21:43:45 (GMT)
--------------------------------------------------

The \"English\" equivalent of this is probably a \"late payment surcharge/charge or fee\"

\"
What is a late payment surcharge?

It is a penalty for the late payment of income tax. Any individual or company that has not paid their tax in full by the surcharge date will have 10% added to the sum which remains unpaid at that date. \"

ref. http://www.incometax.gov.je/late_payment_surcharge.asp

Adam Smith
United Kingdom
Local time: 06:44
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 12
Grading comment
Thank you very much. Thank you also to Chris for the good explanation. Given the context I'm positive that in this instance it is only applied to penalties.

Peer comments on this answer (and responses from the answerer)
agree  Anjo Sterringa: late payment charge is niet helemaal hetzelfde, wordt nl bij voorbaat geheven en kan worden afgetrokken bij 'vroege'/tijdige betaling, hoewel hier in de context het meer op een heffing achteraf (dus wel late payment charge) lijkt.....
2 hrs
  -> Exactly - I'm not entirely sure whether there is this type of "refundable surcharge" in the UK, but in this instance it does seem to be a late payment charge. Thanks!

agree  Chris Hopley: Careful, your first two refs. are of Dutch provenance! I agree with 'late payment surcharge' as the most likely answer given the context.
12 hrs
  -> Thanks Chris - I did point that out from the start! ;-) "Late payment surcharge" probably covers it in this context.
Login to enter a peer comment (or grade)

13 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
discount for early payment / late payment surcharge


Explanation:
De Keizer offers two ways of translating 'kredietbeperking': "discount for prompt payment" & "interest charged on late payments". It is important IMO to make a distinction between the two in English.

Say your supplier offers 30 days credit. He may offer a 1% discount for payment within 10 days. This benefits him because it discourages late payment, thereby improving cash flow and reducing the chances of bad debt.

On the other hand, he may decide to achieve the same result by imposing a 2% surchage on all late payments.

Both are forms of 'kredietbeperking'.

If the "in lid 1 bedoelde termijn" in the context provided by the Asker is the payment due date, 'kredietbeperking' here refers to a late payment surcharge. However, if the "in lid 1 bedoelde termijn" is a date earlier than the payment due date, 'kredietbeperking' refers to an early payment discount.

See also http://tinyurl.com/cnkye (takes you to a page on www.businesslink.gov.uk)

Chris Hopley
Netherlands
Local time: 07:44
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 47

Peer comments on this answer (and responses from the answerer)
agree  Adam Smith: You're absolutely right. So in this sense would the former act as a "betalingskorting"?
19 mins
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also: