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Risiko gegenüber (Kontext)

English translation: as between the parties

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:gegenüber XYZ (Vertrag)
English translation:as between the parties
Entered by: Heike Behl, Ph.D.
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18:29 Jul 1, 2003
German to English translations [PRO]
Law/Patents / purchase of accounts receivable
German term or phrase: Risiko gegenüber (Kontext)
Für alle von XXX angekauften Forderungen trägt XXX gegenüber dem Anbieter das Risiko der Zahlungsunfähigkeit des XXX-Direktkunden bzw. des XXX-Diensteanbieters.

How can I translate and integrate "gegenüber dem Anbieter" in this context?

My attempt so far:
For all accounts receivable purchased by XXX, XXX bears the risk of insolvency of the XXX direct customer or the XXX service provider towards the Provider.

Does that make (legal) sense?
TIA
Heike Behl, Ph.D.
United States
Local time: 22:28
as between the parties
Explanation:
To your specific question about how to handle the preposition ("gegenüber"), this is the language that could serve, but you might conclude that you can eliminate it. I'm with Richard Hall on the essence, though I think a pronoun would be handy and still clear.

"As between the parties, X will bear the risk of insolvency relative to its own direct customers and service providers."

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Note added at 2003-07-02 03:51:52 (GMT)
--------------------------------------------------

BTW, I find it\'s unnecessary to keep saying \"accounts receivable.\" \"Receivables financing\" is a common term, thus \"receivables\" alone should do it.
Selected response from:

Maureen Holm, J.D., LL.M.
United States
Local time: 01:28
Grading comment
Thank you, Maureen, and thanks to everyone!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1as between the parties
Maureen Holm, J.D., LL.M.
5"The risk of xxx direct customer or xxx direct service provider...
Richard Hall
4One of the ways to put this in English
Valentín Hernández Lima
3claims ....etc
Anjo Sterringa


  

Answers


26 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
One of the ways to put this in English


Explanation:
For all accounts receivable purchased by XXX, XXX is liable to the Provider for any risk of insolvency on the part of the XXX direct customer or the XXX service provider.

Cheerio,

V


Valentín Hernández Lima
Spain
Local time: 06:28
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 187
Login to enter a peer comment (or grade)

31 mins   confidence: Answerer confidence 5/5
"The risk of xxx direct customer or xxx direct service provider...


Explanation:
insolvency is borne by the provider with respect to the receivables purchased by xxx."

This is just a rewording of your own translation. I think you've got the meaning. To me it certainly makes (legal) sense. I imagine that it is important that the document state precisely how certain risks are allocated between the parties. The only way to be absolutely certain that it makes sense, however, is to review within the context of the full document and the intent of the parties.

Richard Hall
United States
Local time: 01:28
Native speaker of: English
PRO pts in pair: 210
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32 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
claims ....etc


Explanation:
To my Dutch lawyer's ears, that sounds ok, but a wouldn't a company'd sell claims rather than accounts receivable- a Forderung (Dutch vordering) in this sense being a bit stronger than accounts receivable.

It's just a guess as I am trying to get my head round the English jargon!


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Note added at 2003-07-01 19:07:02 (GMT)
--------------------------------------------------

I See that with factoring any outstanding invoice can be sold.
http://www.invoicefinancial.com/.
Accounts receivable is correct then!

The other part (which sounds ok) has already been answered here, I see.


Anjo Sterringa
Spain
Local time: 07:28
Native speaker of: Native in DutchDutch
PRO pts in pair: 8
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9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
as between the parties


Explanation:
To your specific question about how to handle the preposition ("gegenüber"), this is the language that could serve, but you might conclude that you can eliminate it. I'm with Richard Hall on the essence, though I think a pronoun would be handy and still clear.

"As between the parties, X will bear the risk of insolvency relative to its own direct customers and service providers."

--------------------------------------------------
Note added at 2003-07-02 03:51:52 (GMT)
--------------------------------------------------

BTW, I find it\'s unnecessary to keep saying \"accounts receivable.\" \"Receivables financing\" is a common term, thus \"receivables\" alone should do it.

Maureen Holm, J.D., LL.M.
United States
Local time: 01:28
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 986
Grading comment
Thank you, Maureen, and thanks to everyone!

Peer comments on this answer (and responses from the answerer)
agree  writeaway
9 hrs
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