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Zahlungsverpflichtung statt einer Geldzahlung

English translation: to fulfil the payment obligation by a type of (contractual) performance other than payment in cash

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Zahlungsverpflichtung statt einer Geldzahlung
English translation:to fulfil the payment obligation by a type of (contractual) performance other than payment in cash
Entered by: Killian Kavanagh
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15:13 Feb 8, 2007
German to English translations [PRO]
Bus/Financial - Law: Contract(s)
German term or phrase: Zahlungsverpflichtung statt einer Geldzahlung
I'm having trouble with the part marked withs the ****'s:

Im Sinne einer selbständigen Verpflichtung wird die Borrower die Lender in angemessener Weise hinsichtlich aller Verluste und Verbindlichkeiten schadlos halten, die der Lender dadurch entstehen, daß die Borrower einen unter einem Finanzierungsdokument geschuldeten Zahlungsbetrag in einer anderen als der geschuldeten Währung zahlt oder ****eine Zahlungsverpflichtung statt einer Geldzahlung in eine andere Form der Leistungserbringung umgewandelt wird****.

Any suggestions for translating some of or all of the words/phrases marked **** much appreciated.

MTIA
Killian
Killian Kavanagh
Ireland
Local time: 15:21
to fulfil the payment obligation by a type of (contractual) performance other than payment in cash
Explanation:
to convert/transfer the existing payment obligation from cash payment to another type of performance

The German sentence needs to be read/segmented differently:

a) The borrower has a payment obligation that arises from one or more of the funding/financing documents (i.e. the contractual arrangements) and

b) The asterisked part describes a situation where the borrower would fulfil this obligation by some other type of (contractual) performance, instead of paying in cash.
Selected response from:

Steffen Walter
Germany
Local time: 16:21
Grading comment
Thanks a million Steffen, that was a great help.

Regards
Killian
4 KudoZ points were awarded for this answer

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Summary of answers provided
3IOU instead of a monetary paymentgangels
3to fulfil the payment obligation by a type of (contractual) performance other than payment in cash
Steffen Walter


  

Answers


49 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
statt einer Geldzahlung in eine andere Form der Leistungserbringung umwandeln
to fulfil the payment obligation by a type of (contractual) performance other than payment in cash


Explanation:
to convert/transfer the existing payment obligation from cash payment to another type of performance

The German sentence needs to be read/segmented differently:

a) The borrower has a payment obligation that arises from one or more of the funding/financing documents (i.e. the contractual arrangements) and

b) The asterisked part describes a situation where the borrower would fulfil this obligation by some other type of (contractual) performance, instead of paying in cash.

Steffen Walter
Germany
Local time: 16:21
Works in field
Native speaker of: Native in GermanGerman
PRO pts in category: 625
Grading comment
Thanks a million Steffen, that was a great help.

Regards
Killian
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59 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
IOU instead of a monetary payment


Explanation:
IOU is the accepted term in the US for Zahlungsverpflichtung and means no more or less than 'Ich schulde Dir' which leaves open the form of repayment, though in practice, it would be most likely cash

gangels
Local time: 08:21
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 321
Notes to answerer
Asker: Thanks for this Klaus. I'm translating this cntract into UK English, so in this case I wouldn't have been able to use IOU, but it's definitely one I will keep in mind for the future. Regards Killian

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