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Ziehung [in laufender Rechnung] v. Inanspruchnahme

English translation: drawing(s)/drawdown(s) [on current account]

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Ziehung [in laufender Rechnung] v. Inanspruchnahme
English translation:drawing(s)/drawdown(s) [on current account]
Entered by: silfilla
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12:46 Jun 24, 2005
German to English translations [PRO]
Bus/Financial - Finance (general) / syndicated loan agreement
German term or phrase: Ziehung [in laufender Rechnung] v. Inanspruchnahme
drawings [on open account] v. drawdown(s)

Both terms occur in a syndicated loan agreement. Could someone please explain the difference and confirm or correct my translation?

Here's some sample text:

Bilaterale Finanzierungen sind Ziehungen [in laufender Rechnung] gemäß Art. 3, die von den jeweiligen Banken ... bis zu der für die jeweilige Bank ersichtlichen Höhe zur Verfügung gestellt werden.

Inanspruchnahmen des Kredites sind auch in XYZ möglich.

Many thanks for your help!
silfilla
Local time: 00:10
drawing(s) v. drawdown
Explanation:
Basically the same thing I think. Drawing is the generic "make use of the loan" and drawdowns are the actual draws on the loan in specific amounts. That's how I read it and fits the usage I've seen in English

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Note added at 6 hrs 8 mins (2005-06-24 18:54:21 GMT)
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on the current account
Selected response from:

Ted Wozniak
United States
Local time: 23:10
Grading comment
Thanks, Ted, and thanks to Kieran for the links. I found *drawings* in conjunction with the IMF, WorldBank, ExIm Bank, etc. To keep it simple, I used *drawdown* in this case.
4 KudoZ points were awarded for this answer

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Summary of answers provided
3drawing(s) v. drawdown
Ted Wozniak


Discussion entries: 2





  

Answers


5 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
drawing(s) v. drawdown


Explanation:
Basically the same thing I think. Drawing is the generic "make use of the loan" and drawdowns are the actual draws on the loan in specific amounts. That's how I read it and fits the usage I've seen in English

--------------------------------------------------
Note added at 6 hrs 8 mins (2005-06-24 18:54:21 GMT)
--------------------------------------------------

on the current account

Ted Wozniak
United States
Local time: 23:10
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 479
Grading comment
Thanks, Ted, and thanks to Kieran for the links. I found *drawings* in conjunction with the IMF, WorldBank, ExIm Bank, etc. To keep it simple, I used *drawdown* in this case.

Peer comments on this answer (and responses from the answerer)
disagree  EMatt: Drawdown is commonly used in banking. I have never heard the other term.
5 hrs

agree  Kieran McCann: re 'drawings': http://www.competition-commission.org.uk/rep_pub/reports/198... http://www.charterplc.com/charter/ch_annarchive/2003archive/...
1 day16 hrs
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