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Aufbewahrungspflicht

English translation: duty to keep and retain recods

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12:54 Mar 9, 2002
German to English translations [Non-PRO]
Bus/Financial
German term or phrase: Aufbewahrungspflicht
I've got "Identifizierungspflicht," "Aufzeichnungspflicht" and "Aufbewahrungspflicht" in once sentence. It deals with the prevention of money laundering. They businesses have to identify the customer, keep records and preserve records? I need to have these in terms of duties. Duty to identify customers, keep records and preserve records? keep and preserve records? duty to keep records and safekeeping duty? The problem is with "keep" and preserve. Aren't these duties pretty similar?
AmiHH
Germany
Local time: 23:30
English translation:duty to keep and retain recods
Explanation:
There is a difference : to keep records is to maintain records.
Duty to maintain and retain records.
It's that simple.

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Note added at 2002-03-09 13:15:46 (GMT)
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I.e., after you set up records and keep them current, which is to maintain records, you keep them and store them even after you are nopt using them on a day-today basis. That is retaining them.
Selected response from:

Dr. Fred Thomson
United States
Local time: 15:30
Grading comment
Thanks everyone for the great suggestions.
3 KudoZ points were awarded for this answer

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Summary of answers provided
4 +8duty to keep and retain recods
Dr. Fred Thomson
4 +1documentBeth Kantus
4 +1obligation to keep/preserve records
pschmitt


Discussion entries: 2





  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
obligation to keep/preserve records


Explanation:
Hope this helps

pschmitt
Local time: 22:30
PRO pts in pair: 406

Peer comments on this answer (and responses from the answerer)
agree  GBChrista
1 day5 hrs
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
document


Explanation:
I think your own solution which you added offers a good distinction in your context. The companies are obligated to identify the customers, document the transactions, and keep/maintain/preserve/archive the records.

HTH!

Beth Kantus
United States
Local time: 17:30
Native speaker of: English
PRO pts in pair: 924

Peer comments on this answer (and responses from the answerer)
agree  Endre Both
3 hrs
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19 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +8
duty to keep and retain recods


Explanation:
There is a difference : to keep records is to maintain records.
Duty to maintain and retain records.
It's that simple.

--------------------------------------------------
Note added at 2002-03-09 13:15:46 (GMT)
--------------------------------------------------

I.e., after you set up records and keep them current, which is to maintain records, you keep them and store them even after you are nopt using them on a day-today basis. That is retaining them.

Dr. Fred Thomson
United States
Local time: 15:30
Native speaker of: English
PRO pts in pair: 5861
Grading comment
Thanks everyone for the great suggestions.

Peer comments on this answer (and responses from the answerer)
agree  Ursula Peter-Czichi: Yes, also they aren't supposed to keep them in a shed with a leaky roof....
1 hr
  -> Now that you mention it!

agree  Chris Rowson
1 hr
  -> Thanks, Chris

agree  ingot
1 hr
  -> Thank you

agree  Norman Ellis
1 hr
  -> Thanks, Norman

agree  Elvira Stoianov
3 hrs

agree  Steven Sidore: simpler than what is suggested above
15 hrs

agree  Michael Sebold: For years and years . . .
1 day12 hrs

agree  Krokodil: Definitely!
2 days22 hrs
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