at Arm's-Length

English translation: with no question of a conflict of interest

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:at Arm\'s-Length
English translation:with no question of a conflict of interest
Entered by: Ivan Niu

09:41 Dec 27, 2011
English to English translations [PRO]
Law/Patents - Finance (general) / Limited Partnership Agree
English term or phrase: at Arm's-Length
Please rephrase the first sentence, specially "at Arm's-Length":
The Limited Partnership Agreement has not been Negotiated at Arm's-Length. The Company has
generally established the terms of the Limited Partnership Agreement, which were not negotiated on an
arm's length basis. In addition, legal counsel for the Company has not acted as counsel for or represented
the interests of the prospective investors. Prospective investors should consult with their own legal
counsel with respect to the investment to the Company.

Page 24 Para 2: http://wenku.baidu.com/view/f9b144d7b14e852458fb5763.html?fr...

Thank you very much!
I'm translating this agreement to Chinese, but I need some advice from a native English speaker to help me understand what it means before I translate it. That's why I'm not posting this question as an English to Chinese one (I've tried this way, but mostly it's not very helpful).
Ivan Niu
China
Local time: 03:41
with no question of a conflict of interest
Explanation:
The Limited Partnership Agreement has not been Negotiated in such a way that it can be seen to be open and fair , etc.- that the parties are not related, are not using any unfair advantage


arm's length transaction

Definition
A transaction between two related or affiliated parties that is conducted as if they were unrelated, so that there is no question of a conflict of interest. Or sometimes, a transaction between two otherwise unrelated or affiliated parties.
Selected response from:

AllegroTrans
United Kingdom
Local time: 19:41
Grading comment
Thank you!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4with no question of a conflict of interest
AllegroTrans
3A transaction when the parties are not related or behave as if they were not related
Christine Andersen
2 +1independent [negotiations] (please see below)
Marga Shaw


Discussion entries: 1





  

Answers


29 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
at arm's-length
with no question of a conflict of interest


Explanation:
The Limited Partnership Agreement has not been Negotiated in such a way that it can be seen to be open and fair , etc.- that the parties are not related, are not using any unfair advantage


arm's length transaction

Definition
A transaction between two related or affiliated parties that is conducted as if they were unrelated, so that there is no question of a conflict of interest. Or sometimes, a transaction between two otherwise unrelated or affiliated parties.

AllegroTrans
United Kingdom
Local time: 19:41
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 16
Grading comment
Thank you!

Peer comments on this answer (and responses from the answerer)
agree  Jack Doughty
1 min
  -> thanks Jack

agree  B D Finch
58 mins
  -> thanks Barbara

agree  Liz Dexter (was Broomfield)
1 hr
  -> thanks Liz

agree  marybro
15 hrs
  -> thanks marybro
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33 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +1
at arm's-length
independent [negotiations] (please see below)


Explanation:

at arm's length -> independent

The arm's length principle (ALP) is the condition or the fact that the parties to a transaction are independent and on an equal footing. Such a transaction is known as an "arm's-length transaction". It is used specifically in contract law to arrange an equitable agreement that will stand up to legal scrutiny, even though the parties may have shared interests (e.g., employer-employee) or are too closely related to be seen as completely independent (e.g., the parties have familial ties).
http://en.wikipedia.org/wiki/Arm's_length_principle

Arm's Length Relationship
An arm's length relationship is a term used to describe a type of business relationship a corporation should have with a close associate to avoid a conflict of interest. For example, when you negotiate with your banker or your supplier, any agreement which results will likely reflect market value and commercially reasonable terms and conditions.
http://apostille.us/abc/arms_length_relationship.shtml

arm's length adj. the description of an agreement made by two parties freely and independently of each other, and without some special relationship, such as being a relative, having another deal on the side or one party having complete control of the other. It becomes important to determine if an agreement was freely entered into to show that the price, requirements, and other conditions were fair and real. Example: if a man sells property to his son the value set may not be the true value since it may not have been an "arm's length" transaction.
http://legal-dictionary.thefreedictionary.com/arm's length




Marga Shaw
United Kingdom
Local time: 19:41
Native speaker of: German

Peer comments on this answer (and responses from the answerer)
agree  Tina Vonhof: Very good explanations.
6 hrs
  -> Thank you, Tina!
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37 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
at arm's-length
A transaction when the parties are not related or behave as if they were not related


Explanation:
The parties are admitting that they may be acting in their own interests and on special terms - as they are perfectly entitled to do.

However, most people wishing to do business with them must trade on normal market terms, and these still have to be assessed or negotiated.

Specially favourable terms can be agreed between family and friends, depending on what the business is, and the law of the country.

For instance, in Denmark, the owner of a house may sell it to certain close family members for a sum 15% below the market price, but any greater reduction will attract tax one way or another.

Other rules apply to other kinds of business.

Others can probably explain better!

Christine Andersen
Denmark
Local time: 20:41
Native speaker of: Native in EnglishEnglish
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