Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
02:08 Aug 16, 2007
German to English translations [PRO] Law/Patents - Law: Contract(s) / Swiss Reservation Agreement
German term or phrase:gegen Verzicht
Die Reservationszahlung Bst. a ist zu treuen Händen an Notar Herr X, in [town], auf sein Konto Klientengelder bei der [bank] (IBAN: ABC123) zu leisten. Die Reservationszahlung gilt als Reugeld gemäss Art. 158 Abs. 3 OR: ***Gegen Verzicht auf diesen Betrag können die Käufer und gegen Erstattung des doppelten Betrages können die Verkäufer auf den Abschluss des Kauf¬vertrages verzichten.***
From a Swiss reservation agreement between sellers of a building of flats yet to be built and buyers of one of the prospective flats. I don't understand what the sentence in asterisks means. Specifically, I can't work out what precisely "gegen" and "verzicht" mean in the context, and the overall meaning is lost on me. Is it saying that certain actions by the buyers and sellers would prevent the purchase contract from being concluded? Or that they can carry out these actions if they don't want to conclude the purchase contract? And just what actions are they? Is "Verzicht auf diesen Betrag" refusal to pay the amount, waiving the amount, or what? And why would the sellers refund double the amount? Surely you would just refund the amount paid and no more, but I don't really know much about this sort of thing. TIA for helping me make some sense of this.
Explanation: I wonder if this should really have been a mini-job...
It really ahs to be reworded completely, IMO. I'd suggest something along these lines:
If the (intending) purchaser fails to complete the Purchase Contract, he shall waive his entitlement to this sum (deposited), while if the seller fails to complete the Purchase Contract, he shall be liable to reimburse twice this amount to the intending purchaser.
I am not sure, but it looks as if you could also use "withdraws from", though this does tend to suggest that the Contract has been completed, i.e. signed.
I went with this answer, but I also liked Fred's suggestion and wasn't sure which one was the better long-term prospect. However, I think I do just slightly prefer David's suggestion long-term as well as short-term. So thank you all and sorry for taking so long to grade this. I just find it really hard to make up my mind sometimes, especially when there are no peer grades! 4 KudoZ points were awarded for this answer
I always try to do that (within reason), because the more context you give and the more precisely you specify your problem, the more likely you will hopefully get the right answer. Thanks now also to Jana - the added note is very helpful, so much appreciated.
I'm having trouble with the entire sentence, not just "Verzicht". I need a much more detailed answer than that, if possible.
Automatic update in 00:
Answers
39 mins confidence:
Gegen Verzicht ...
waiving or renouncing
Explanation: I would use either of above verbs.
-------------------------------------------------- Note added at 1 hr (2007-08-16 03:14:45 GMT) --------------------------------------------------
Sorry, Rowan. I was in a rush and did not read the wohle question. "Verzicht" means in this case that the Buyer is waiving his right to the funds which he has deposited in the solicitors account. The Seller, on the other hand, needs to pay a fine if he does not decide to go ahead with the contract and will be fined with double the amount in this case.
Jana Antelmann Local time: 00:42 Meets criteria Native speaker of: German
In return for waiving this payment the buyers may decline to conclude (sign) the conract of purchase.
In return for paying twice the amount (of such payment) the sellers may decline to conclude (sign) the contract of purchase.
Now put the two sentences together in one sentence and you have it.
Dr. Fred Thomson United States Local time: 06:42 Meets criteria Specializes in field Native speaker of: English PRO pts in category: 463
Explanation: I wonder if this should really have been a mini-job...
It really ahs to be reworded completely, IMO. I'd suggest something along these lines:
If the (intending) purchaser fails to complete the Purchase Contract, he shall waive his entitlement to this sum (deposited), while if the seller fails to complete the Purchase Contract, he shall be liable to reimburse twice this amount to the intending purchaser.
I am not sure, but it looks as if you could also use "withdraws from", though this does tend to suggest that the Contract has been completed, i.e. signed.
David Moore Local time: 14:42 Meets criteria Works in field Native speaker of: English PRO pts in category: 351
Grading comment
I went with this answer, but I also liked Fred's suggestion and wasn't sure which one was the better long-term prospect. However, I think I do just slightly prefer David's suggestion long-term as well as short-term. So thank you all and sorry for taking so long to grade this. I just find it really hard to make up my mind sometimes, especially when there are no peer grades!
The translation workplace 
