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German to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Loan Agreement | | German term or phrase: Aufrechnung/Verrechnung | Can anyone please explain the fundamental difference between these two terms - I know they can both mean set-off but in this case they stand side-by-side in table of contents of a loan agreement.
Thanks ! |
| | | set-off/accounting or taking of accounts | Explanation:
More context needed from the actual contents, as Verrechnung can also involve transfer pricing between group companies.
Rarely does Verrechnung mean set-off, but usually charging or settling up.
The Proz answer of balancing and clearing does not seem to work particularly well with a loan agreement, unless there are indeed unpaid bals. |
| Selected response from:
Tom Thumb
Local time: 04:04
| Grading comment Thank you Tom for you very concise answer which clears any doubts !
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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13 mins confidence:   set-off/accounting or taking of accounts
Explanation:
More context needed from the actual contents, as Verrechnung can also involve transfer pricing between group companies.
Rarely does Verrechnung mean set-off, but usually charging or settling up.
The Proz answer of balancing and clearing does not seem to work particularly well with a loan agreement, unless there are indeed unpaid bals.
Reference: http://www.proz.com/kudoz/179153
| Tom Thumb
Local time: 04:04
Native speaker of:  English
PRO pts in category: 16
|
| | Grading comment | Thank you Tom for you very concise answer which clears any doubts ! |
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