English translation: purchase of accounts receivable [receivables] / factoring (arrangement)
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12:24 Jul 2, 2008
German to English translations [PRO] Bus/Financial - Law: Contract(s) / international web services
German term or phrase:Forderungskauf
I read everything about "forderung" I could find on Proz (which is a lot), but nothing really seems to fit. I am translating a supplementary agreement for the situation in which a domestic portal makes its site available for foreign service providers. If any of the services or products of the foreign service provider are bought, there are complicated payment arrangements, probably in connection with tax (VAT). From the agreement:
"Der Kaufpreis für de Forderung ist jeweils der Betrag des Zahlungsanspruchs des Anbieters gegenüber dem Endkunden . . . X erhält von diesem Betrag einen Anteil in Höhe von . . . als Entgelt für ... und den Forderungskauf.
Thanks everyone for contributing. I still have my doubts about this answer, but I also think I did not receive enough information from my client to get to the bottom of this. 2 KudoZ points were awarded for this answer
Re. your comment below - on the one hand, factoring arrangements are offered by financial services providers. On the other, almost any company from any conceivable sector (also, f. ex., industrial engineering) may enter into such a factoring agreement.
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15 mins confidence: peer agreement (net): +1
purchase of accounts receivable [receivables] / factoring (arrangement)
Explanation: We'd need more context to be sure but this looks as if some sort of factoring arrangement were included in the overall agreement.
Steffen Walter Germany Local time: 01:50 Works in field Native speaker of: German PRO pts in category: 625
Thanks everyone for contributing. I still have my doubts about this answer, but I also think I did not receive enough information from my client to get to the bottom of this.
Notes to answerer
Asker: I did actually look specifically for "forderungskauf", but factoring seemed to me a term used in financial services, not necessarily in agreements outside this specific field. The basic agreement (which I do not have) is about straightforward buying and selling of products and services.