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compte gage-espèces

English translation: cash collateral account

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:compte gage-espèces
English translation:cash collateral account
Entered by: Mary Lalevee

15:56 Jul 4, 2003
French to English translations [PRO]
Bus/Financial - Finance (general) / banking
French term or phrase: compte gage-espèces
Is this the same as an "escrow account"? I have been unable to find a translation. "XXX a reçu notification de la part du (bank) que le prix TTC de l'Assignment avait été effectivement versé sur le compte gage-espèces".
Mary Lalevee
United Kingdom
Local time: 08:14
cash collateral account (?)
Explanation:
Would that fit?

<<CASH COLLATERAL ACCOUNT - An account in the name of a borrower that serves as a clearing account with its bank, usually for the purpose of securing and servicing an indebtedness. With a cash collateral account, money is deposited in a lockbox account; when the funds are collected and the deposits have cleared, the debt served by the account is reduced. A cash collateral account cannot be drawn upon like a checking account and essentially is considered a zero balance account. >>

Selected response from:

Bourth (X)
Local time: 09:14
Grading comment
Thanks Alex (and others), this seems to be it.
Mary
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +3cash collateral account (?)
Bourth (X)


  

Answers


14 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
cash collateral account (?)


Explanation:
Would that fit?

<<CASH COLLATERAL ACCOUNT - An account in the name of a borrower that serves as a clearing account with its bank, usually for the purpose of securing and servicing an indebtedness. With a cash collateral account, money is deposited in a lockbox account; when the funds are collected and the deposits have cleared, the debt served by the account is reduced. A cash collateral account cannot be drawn upon like a checking account and essentially is considered a zero balance account. >>



Bourth (X)
Local time: 09:14
Native speaker of: Native in EnglishEnglish
PRO pts in category: 307
Grading comment
Thanks Alex (and others), this seems to be it.
Mary

Peer comments on this answer (and responses from the answerer)
agree  Gayle Wallimann: I was thinking of the same term. www.lectlaw.com/def/c166.htm - 3k
15 mins
agree  roneill
7 hrs
agree  Peter Freckleton
1 day 14 hrs
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