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avance en compte courant

English translation: cash deposit made in the form of a current account

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:avance en compte courant
English translation:cash deposit made in the form of a current account
Entered by: Marc Glinert
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14:25 Aug 31, 2006
French to English translations [PRO]
Bus/Financial - Business/Commerce (general)
French term or phrase: avance en compte courant
In an agreement:

"La societe YY consent a la societe XX qui accepte une avance en compte courant du montant ci-dessus fixé.

La presente avance est regie par les articles 1905 a 1914 du Code Civil.

Cette avance en compte courant est destiner a financer le developpement des activites de la societe XX."

I know there is already an entry in PROZ that translates this as "advance in current account", but that is not very convincing.

My proposal is "current account overdraft facility"
Elizabeth Niklewska
United Kingdom
Local time: 18:40
current account credit
Explanation:
Hi, Lizza.
Overdraft facility is fine provided that the company granting it - YY, in your case, is a bank. If not, it sounds a bit odd.
Thus I would go with the above, or some variant of it such as:
credit facility on the current account up to the agreed sum.

--------------------------------------------------
Note added at 17 hrs (2006-09-01 08:01:25 GMT)
--------------------------------------------------

The additional info from lizza and suggestion from Wendy have prompted something of a rethink on my part.
I wonder if we should not go with : “advance payment made in the form of a current account” or “cash deposit made in the form of a current account”
It was the “en” that I had somewhat misinterpreted.
Selected response from:

Marc Glinert
Local time: 19:40
Grading comment
I think this sort of covers it
3 KudoZ points were awarded for this answer

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Summary of answers provided
3 +3advance payment made into the current account
Wendy Cummings
4 +1current account creditMarc Glinert
4who accepts to receive an advance in its checking accountMatthewLaSon
4current account advance; overdraft financing
Marian Greenfield


Discussion entries: 5





  

Answers


35 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
advance payment made into the current account


Explanation:
As i read it, I would go with the other Proz entry, but expand it slightly.

Company YY grants to Company XX, who accepts, an advance payment into their current account of the amount established above.

This money will then be used to finance the various activities of company XX.

Hope that helps.


Wendy Cummings
United Kingdom
Local time: 18:40
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
agree  Natasha Dupuy: This is how it has been explained to me in the past since my agency sometimes requests this from my clients
18 mins
  -> thanks Natasha

agree  Marc Glinert: Hi Wendy. I must say I am starting to veer towards your position on this one, but with quite a notable difference. Kindly see below.
16 hrs
  -> Thanks Mark. Yes, given Lizza's further information re: "sera titulaire de" you may have a point. However there is still the phrase of "du montant ci-dessus fixe" - could a current account have a fixed value to it? Unless the account came with credit.

agree  MatthewLaSon: I am pretty sure taht compte courant = checking account (US English) . Also, avance = advance (money given in advance). I do agree with the bulk of what you are saying.
1 day3 hrs
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43 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
current account advance; overdraft financing


Explanation:
adelanto en cuenta corriente - Current Account Overdraft (Spanish ...Current account advance is the American substitute for the European method of financing by overdraft. Current account advances are extensions of credit in ...
www.proz.com/kudoz/402095 - 33k - Cached - Similar pages


Banca del GottardoCurrent account (advance by overdraft) It can be used in various ways with an interest rate and which is only applied to the amounts effectively utilised. ...
www.gottardo.com/PUBLIC/publisher/main/en/coba/corp_financi... - 24k - Cached - Similar pages


ABA - Annual Report 2004If we compare the rates in force at the end of 2004 to those in force a year earlier, it can be observed that current account advance payments show the most ...
www.aba-argentina.com/mem2004/english/cap2_4.htm - 74k - Cached - Similar pages


BARRY RG CORP /OH/ - RGBC Quarterly Report (10-Q) EXHIBIT 10.2Mr. Thierry Civetta, in his capacity of legal representative of RG Barry France, agrees to grant Escapade SA a current account advance under the terms and ...
sec.edgar-online.com/1999/11/16/08/0000950152-99-009187/Section18.asp - 24k - Cached - Similar pages


SEC Info - Barry RG Corp/OH - 10-Q - For 10/2/99 - EX-10.2www.secinfo.com/dsVS7.68Vc.b.htm - Similar pages


Ziraat Bank International AGCurrent account advance; Short term prefinancing or interim financing. Provision of guarantees to provide cover for advance payment, performance or warranty ...
www.ziraatbank.de/front_content.php?changelang=5&lang=5&bez... - 25k - Cached - Similar pages



Marian Greenfield
Local time: 13:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 57

Peer comments on this answer (and responses from the answerer)
neutral  Marc Glinert: Marian - lizza has already told us we are not talking about a bank. Therefore your references are inapplicable.
16 hrs
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18 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
current account credit


Explanation:
Hi, Lizza.
Overdraft facility is fine provided that the company granting it - YY, in your case, is a bank. If not, it sounds a bit odd.
Thus I would go with the above, or some variant of it such as:
credit facility on the current account up to the agreed sum.

--------------------------------------------------
Note added at 17 hrs (2006-09-01 08:01:25 GMT)
--------------------------------------------------

The additional info from lizza and suggestion from Wendy have prompted something of a rethink on my part.
I wonder if we should not go with : “advance payment made in the form of a current account” or “cash deposit made in the form of a current account”
It was the “en” that I had somewhat misinterpreted.


Marc Glinert
Local time: 19:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 43
Grading comment
I think this sort of covers it

Peer comments on this answer (and responses from the answerer)
agree  MikeGarcia
25 mins
  -> THanks Miguel
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15 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
who accepts to receive an advance in its checking account


Explanation:
Hello,

avance = advance (money supplied beforehand in expectation that the money will be repayed in full )

compte courant (bancaire) = checking account ("courant" doesn't need to be translated in English)

I hope this helps.

--------------------------------------------------
Note added at 4 days (2006-09-04 23:03:04 GMT) Post-grading
--------------------------------------------------

My translation of "compte courant" as "checking account" is intended for an American audience.

MatthewLaSon
Local time: 13:40
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 175

Peer comments on this answer (and responses from the answerer)
neutral  Colin Smith: you should be aware that 'checking account' is used in the US only. Elsewhere in the world it is 'current account'
3 days5 hrs
  -> Thank you, Colin. However, my translation was intended for an American audience. I should have clarified that in my answer.
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