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begleichen

English translation: offset against


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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:begleichen
English translation:offset against
Entered by: Kim Metzger
Options:
- Contribute to this entry
- Include in personal glossary

03:55 Nov 18, 2005
German to English translations [PRO]
Bus/Financial - Accounting / wind energy contract
German term or phrase: begleichen
The contractor (X Co.) is providing maintenance and "earnings growth" services for Windenergieanlagen. I don't do accounting texts, but here's a clause in the middle of the contract that is beyond my expertise and makes me want to cry. I understand almost nothing in the second sentence, but would like to start by asking how you would translate "beglichen" here.

Ausgleichszahlungen
X Co. zahlt dem Auftraggeber die während eines Vertragsjahres berechneten Ausgleichszahlungen gemäß § 20 innerhalb 30 Tagen nach dem Ende des entsprechenden Vertragsjahres gegen Rechnung.

Sollten wesentliche Ertragsausfälle im Betriebsjahr auftreten, werden diese bereits im laufenden Jahr mit den auf die Jahresabschlussrechnung anrechenbaren Abschlagszahlungen beglichen.
Kim Metzger
Mexico
Local time: 17:12
to settle with / to offset against
Explanation:
Hi Kim, just a modest attempt to get you started - accounting is not my cup of tea either...

First of all, here are two relevant entries from Schäfer Hyperbook Wirtschaft:

begleichen
(com) to pay (eg, a debt)
– to defray (eg, cost, expenses)
– to discharge (eg, a debt)
– to settle (eg, bill or money claimed)
– to square (eg, an account)

Abschlagszahlung f
(com) part payment
(com) payment on account
(com) progress payment
(Re) installment, § 266 BGB

And this is my shot for the whole sentence:

Should there be any significant income adjustments in the course of the operating year, these will be settled on an ongoing basis with [OR: offset on an ongoing basis against] part payments creditable against the year-end financial statements [OR: annual accounts].
Selected response from:

Olaf Reibedanz
Argentina
Local time: 19:12
Grading comment
Many thanks to all of you. I selected Olaf's answer because it was the most thorough and helpful.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +3to settle / pay
Stephen Sadie
4be offset/ cancelled
David Hollywood
3not for points
Friderike Butler
2 +1to settle with / to offset against
Olaf Reibedanz


Discussion entries: 2





  

Answers


9 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +3
to settle / pay


Explanation:
they will be deducted from the advance payments

Stephen Sadie
Germany
Local time: 00:12
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 49

Peer comments on this answer (and responses from the answerer)
agree  Ingrid Blank: definitely
12 mins
  -> thanks ingrid
agree  Friderike Butler
22 mins
  -> thanks frederike
agree  Walter Köppe
2 hrs
  -> danke walter
Login to enter a peer comment (or grade)

9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
be offset/ cancelled


Explanation:
the way I see it Kim

--------------------------------------------------
Note added at 12 mins (2005-11-18 04:08:08 GMT)
--------------------------------------------------

maybe even: "covered" but I would go with "offset"

David Hollywood
Local time: 19:12
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 78
Login to enter a peer comment (or grade)

17 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +1
to settle with / to offset against


Explanation:
Hi Kim, just a modest attempt to get you started - accounting is not my cup of tea either...

First of all, here are two relevant entries from Schäfer Hyperbook Wirtschaft:

begleichen
(com) to pay (eg, a debt)
– to defray (eg, cost, expenses)
– to discharge (eg, a debt)
– to settle (eg, bill or money claimed)
– to square (eg, an account)

Abschlagszahlung f
(com) part payment
(com) payment on account
(com) progress payment
(Re) installment, § 266 BGB

And this is my shot for the whole sentence:

Should there be any significant income adjustments in the course of the operating year, these will be settled on an ongoing basis with [OR: offset on an ongoing basis against] part payments creditable against the year-end financial statements [OR: annual accounts].

Olaf Reibedanz
Argentina
Local time: 19:12
Works in field
Native speaker of: Native in GermanGerman
PRO pts in category: 12
Grading comment
Many thanks to all of you. I selected Olaf's answer because it was the most thorough and helpful.

Peer comments on this answer (and responses from the answerer)
agree  John Owen: I'm with you: I think it should read "will be offset against the instalment payments to be made on account for the annual invoice"
4 hrs
  -> Thanks for the refinement, John!
Login to enter a peer comment (or grade)

38 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
not for points


Explanation:
This is how I understand the contractual relationship in plain terms:

The contractor is financially liable for any instance that the productivity is below an agreed upon level. Minor productivity losses will be billed at the end of the year. Major losses have to be settled when they occur and this advance payment will be deducted from the total annual liability.

Hope that helps to untangle your sentence.

Friderike Butler
United States
Local time: 18:12
Native speaker of: Native in GermanGerman
Login to enter a peer comment (or grade)




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Changes made by editors
Nov 18, 2005 - Changes made by Kim Metzger:
FieldLaw/Patents => Bus/Financial
Field (specific)Law: Contract(s) => Accounting


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