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Forderungsankauf

English translation: purchase of receivables

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Forderungsankauf
English translation:purchase of receivables
Entered by: Ralf Lemster
Options:
- Contribute to this entry
- Include in personal glossary

16:06 Jul 10, 2003
German to English translations [PRO]
Bus/Financial
German term or phrase: Forderungsankauf
Die Rückführung des Forderungsankaufes erfolgt durch die monatliche Begleichung der vereinbarten Leasingrate durch den Kreditnehmer.

Above they are talking about 'die Bank die Forderungen aus den Vertraegen regresslos angekauft.'

Any help much appreciated!
TRANSRAPID
United Kingdom
Local time: 19:22
factoring
Explanation:
Astrid, I really don't know what factoring means, but this is the translation given in the online accounting dictionary listed below.

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Note added at 2003-07-10 16:36:59 (GMT)
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Zahn - Bank- und Börsenwesen gives \'purchase of receivables\' or factoring for Forderungsankauf.
Selected response from:

Kim Metzger
Mexico
Local time: 13:22
Grading comment
Many thanks to both of you!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1purchase of receivables
Richard Hall
5 +1assignment of receivables
William Stein
5Moderator's note
Ralf Lemster
3factoring
Kim Metzger


  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
factoring


Explanation:
Astrid, I really don't know what factoring means, but this is the translation given in the online accounting dictionary listed below.

--------------------------------------------------
Note added at 2003-07-10 16:36:59 (GMT)
--------------------------------------------------

Zahn - Bank- und Börsenwesen gives \'purchase of receivables\' or factoring for Forderungsankauf.


    Reference: http://www.imc-krems.ac.at/wolfgang.wagner/_private/dictiona...
Kim Metzger
Mexico
Local time: 13:22
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 21825
Grading comment
Many thanks to both of you!
Login to enter a peer comment (or grade)

17 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
assignment of receivables


Explanation:
(From Schaeffers). This means that somebody doesn't want to have to collect the debts (receivables) himself, so he sells the right to collect them to a bank at a discount (the bank pays less than face value since it has to do all the work, assume the risk, and needs to make a profit on the transaction).

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Note added at 2003-07-10 16:27:54 (GMT)
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The claims to the payments have been sold (or \"assigned\") to the bank \"irrevocably\", meaning that the bank can\'t try to give those claims back to the seller.

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Note added at 2003-07-10 16:47:10 (GMT)
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Without engaging in a great \"battle of the dictionaries\", I can say that I studied this in law school and I know what they\'re talking about. \"Claims\" and \"receivables\" are the same in this case, but \"claims\" is more legalese and thus better suited for a contract. In any case, you can look at the following links and see whether \"the shoe fits\" and probably pick up some good vocabulary while you\'re at it (once you feel better, that is!):

PDF]ALLEN & O VER Y
File Format: PDF/Adobe Acrobat - View as HTML
... regulation in particular manner for the leasing of the assignment of claims under the leasing fees to the third party, which most frequently is the bank of the ...
www.allenovery.com/asp/pdf/ Amendments%20to%20Income%20Tax%20and%20Value%20Added%20Tax%20With%20Regard%20t... - Similar pages

Monitor Directory of Articles
... LGL005 The Assignment of Claims Act, Day, Gregg A., Keogh, Patrick J., Vol. ... Jerry
Newell, Senior VP and Manager of Bank of the West \'s Leasing Division, Vol ...
www.monitordaily.com/art3.html - 101k - Cached - Similar pages

Athens Exchange
... in order to cover a part of the participation of the Bank in the share ... ETVA LEASING
SA. ... whereas a part of it was covered through the assignment of claims to the ...
www.ase.gr/content/en/announcements/dailypress/ Daily_Announcements.asp?announ_id=1747 - 51k - Cached - Similar pages

[PDF]Real Property Leasing Manual (part 1 of 15)
File Format: PDF/Adobe Acrobat - View as HTML
US DEPARTMENT OF AGRICULTURE WASHINGTON, DC 20250 DEPARTMENTAL MANUAL Number:
5100-1 DATE: March 3, 1991 SUBJECT : Real Property Leasing Manual OPI: Real ...
www.usda.gov/ocio/directives/DM/DM5100-001.pdf - Similar pages




William Stein
Costa Rica
Local time: 12:22
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1734

Peer comments on this answer (and responses from the answerer)
neutral  Kim Metzger: Schäfer doesn't include Forderungsankauf. Your reference is to Forderungsabtretung. Forderungsankauf is purchase of receivables or factoring in Zahn.
11 mins
  -> "Factoring" refers to general business of buying claims to receivables, but it's not a legal term and wouldn't fit in well with this context, which is describing a specific transaction, not a branch of banking.

agree  Ralf Lemster: Agree with your explanation (and your peer-grading response), but I'd still prefer to use "purchase"
12 hrs
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38 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
purchase of receivables


Explanation:
in fact " the non recourse purchase of receivables"

Richard Hall
United States
Local time: 14:22
Native speaker of: English
PRO pts in pair: 210

Peer comments on this answer (and responses from the answerer)
agree  Ralf Lemster
12 hrs
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13 hrs   confidence: Answerer confidence 5/5
Moderator's note


Explanation:
Please note that I changed the glossary entry to "purchase of receivables" only. As William correctly explained, "factoring" is a wider term for a business function (which, of course, includes the purchase and assignment of receivables).

Ralf

Ralf Lemster
Germany
Local time: 20:22
Native speaker of: German
PRO pts in pair: 2684
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