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compensazione

English translation: set-off

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:compensazione
English translation:set-off
Entered by: Pasquale Capo
Options:
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13:42 Nov 1, 2003
Italian to English translations [PRO]
Bus/Financial - Finance (general) / banking
Italian term or phrase: compensazione
La banca, quando intenda avvalersi della compensazione tra crediti non liquidi e esigibili, non e' tenuta ad onorare gli assegni emessi dal cliente con data posteriore alla ricezione da parte di quest'ultimo della comunicazione relativa alla volonta' di valersi della compensazione, nei limiti in cui sia venuta meno la disponibilita' esistente sul conto.

Sorry it's long - I wanted to include as much context as possible. For 'compensazione' would 'balance' do?
Amy Christie
United Kingdom
Local time: 01:35
set-off
Explanation:
It appears that the bank has the right of set-off when the account is overdrawn compensating it with other liquid investments (assets) held by the client at the bank. Hope it helps. PC
Selected response from:

Pasquale Capo
Canada
Local time: 20:35
Grading comment
Thank you Pasquale!
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2Clearing
rugiada
4 +2set-off
Pasquale Capo
2 -1compensation
Carolina Garrido


Discussion entries: 1





  

Answers


3 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): -1
compensation


Explanation:
Why not compensation? It is used a lot in relation to banking.

Carolina Garrido
United States
Local time: 19:35
Native speaker of: Native in SpanishSpanish

Peer comments on this answer (and responses from the answerer)
disagree  xxxKirstyMacC: you don't say in what line of banking. A bank could pay a customer compensation - in defamation on a trader - for wrongfully stopping cheques.
6 hrs
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22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
set-off


Explanation:
It appears that the bank has the right of set-off when the account is overdrawn compensating it with other liquid investments (assets) held by the client at the bank. Hope it helps. PC

Pasquale Capo
Canada
Local time: 20:35
Works in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish
PRO pts in category: 28
Grading comment
Thank you Pasquale!

Peer comments on this answer (and responses from the answerer)
agree  xxxKirstyMacC: ... of claims, rather than of credits.
2 hrs

agree  Grace Anderson
1 day5 hrs
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6 hrs   confidence: Answerer confidence 5/5 peer agreement (net): +2
Clearing


Explanation:
clearing: Sistema centralizzato di compensazione reciproca di crediti e debiti, che permette di razionalizzare le operazioni di pagamento e su titoli.


rugiada
Works in field
Native speaker of: Native in ItalianItalian, Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  xxxKirstyMacC: take another look at what precedes the word: 'avvalersi'> avail itself of. Mutual set-off is a defence AVAILABLE in Eng. law.
17 mins
  -> The bank wants to take advantage of the clearing. It is NOT a mutual set off. The bank DECIDES.

agree  cjohnstone
2 hrs

agree  verbis: with rugiada
9 hrs
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