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Verzugszinsen über dem Basiszins aus dem offenen Betrag zahlen

English translation: ECB base rate + 8%

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Verzugszinsen über dem Basiszins aus dem offenen Betrag zahlen
English translation:ECB base rate + 8%
Entered by: Humlova
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22:36 May 5, 2003
German to English translations [PRO]
Bus/Financial - Finance (general) / interest rates
German term or phrase: Verzugszinsen über dem Basiszins aus dem offenen Betrag zahlen
Im Falle des Zahlungsverzuges hat die Käuferin an die Verkäuferin Verzugszinsen in Höhe von 8 % p.a. über dem Basiszins der EZB aus dem jeweils offenen Betrag zu zahlen.

Does this mean that in the event of payment delay, the Purchaser pays the Seller:

a) late charge of 8% p.a. applied on the outstanding amount PLUS the base rate of the ECB?

or

b) late charge calculated thus: 8% p.a. + ECB base rate, added then applied to outstanding amount?

But I guess a = b if one (correctly) assumes that the ECB base rate in a) will also be applied to the outstanding amount.

Geddit?
Marcus Malabad
Canada
EZB base rate + 8%
Explanation:
So if the interest rate published by the EZB (European Central Bank) is e.g. 4.5% than the late payment charge would be 12.5% per year of the unsettled amount.
Selected response from:

Humlova
Austria
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3EZB base rate + 8%
Humlova
5default interest of 8% above the base rate
Alexander Schleber
4see suggested translationRon Stelter


  

Answers


9 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
EZB base rate + 8%


Explanation:
So if the interest rate published by the EZB (European Central Bank) is e.g. 4.5% than the late payment charge would be 12.5% per year of the unsettled amount.

Humlova
Austria
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 4

Peer comments on this answer (and responses from the answerer)
agree  Ted Wozniak
1 hr

agree  Ralf Lemster: E*C*B ;-)
7 hrs

agree  Steffen Walter
9 hrs
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 5/5
default interest of 8% above the base rate


Explanation:
EZB will not be understood by everyone.

Alexander Schleber
Local time: 17:23
Works in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 41
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13 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
see suggested translation


Explanation:
to pay default interest above the base lending rate from the outstanding amount

over 4,000 hits for base lending rate


The Base Lending Rate will be used for determining your interest rate. Merrill Lynch will set the Base Lending Rate, which will be adjusted from time to time, with reference to commercially recognized interest rates. The rates are based on a sliding scale of percentages added to the current Base Lending Rate depending upon the amount of your average daily debit balance.



    Reference: http://www.mldirect.ml.com/publish/public/agreement.asp?file...
Ron Stelter
Local time: 10:23
Native speaker of: Native in EnglishEnglish
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Changes made by editors
Oct 29, 2008 - Changes made by Steffen Walter:
Field (specific)(none) » Finance (general)


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