Glossary entry (derived from question below)
French term or phrase:
Rétrocession
English translation:
release from booking commitment
Added to glossary by
Mark Bossanyi
Aug 3, 2010 18:19
13 yrs ago
6 viewers *
French term
Bulgaria
The original in all but the language
Native in: English 
Works in: French to English, Bulgarian to English, Esperanto to English, and 1 more.
Rétrocession
French to English
Other
Tourism & Travel
Tour operators and restaurants
Rétrocession peut être en fait 24h selon le cas de toute façon avec une flexibilité certaine
It this some kind of post-factum price adjustment for meals not consumed?
It this some kind of post-factum price adjustment for meals not consumed?
Proposed translations
(English)
| 3 +2 | release from booking commitment |
Claire Nolan
|
| 4 +5 | refund |
mee2118
|
| 4 | credit |
kashew
|
| 4 | release (time) |
Sarah Bessioud
|
| 3 -4 | kickback |
GillW (MCIL)
|
References
| retrocession |
AllegroTrans
|
Proposed translations
+2
5 hrs
Selected
release from booking commitment
I'm not sure that ''rétrocession'' has to do with money directly. It seems to refer to the confirmation that rooms will be held and the tour operator's ability to get out of the commitment.
13- Qu’est-ce qu’un délai de rétrocession ?
→ C’est le délai sous lequel le tour operator doit confirmer la réservation des chambres qu’il a faite à un hôtel, un club…
http://www.intellego.fr/soutien-scolaire-Terminale-Hotelleri...
See also here:
http://books.google.ca/books?id=GOPvHG3AL4YC&pg=PA147&lpg=PA...
DELAI DE RETROCESSION :
Les allotements mis à disposition de LA LLP RESERVER PAS CHER, sont soumis à un délai de rétrocession :
- J-0 en Basse Saison (du __________________________________ au __________________________________)
- J-7 en Haute Saison (du___________________________________ au __________________________________)
A défaut d’avoir reçu une réservation avant le début du Délai de Rétrocession, le Partenaire retrouve la libre disposition de la (des) chambre(s).
http://www.reserverpascher.net/doc/1/Contratloc_tunisie.pdf
Also, in some Tunisian hotel websites, the rate schedule has a ''délai de rétrocession'' category, translated on one website as ''release'':
http://www.hotelriadhpalms.com/cr2.resa/ui/aba/Hotel_Detail....
''délai de rétrocession'' in French is given as ''release day'', which is a poor translation, I think.
--------------------------------------------------
Note added at 16 hrs (2010-08-04 10:38:39 GMT)
--------------------------------------------------
I believe it means that the tour operator has up to the 24 hours before his booked arrival date at the hotel to cancel. And in your case, Mark, there may even be flexibility with the 24-hour period.
13- Qu’est-ce qu’un délai de rétrocession ?
→ C’est le délai sous lequel le tour operator doit confirmer la réservation des chambres qu’il a faite à un hôtel, un club…
http://www.intellego.fr/soutien-scolaire-Terminale-Hotelleri...
See also here:
http://books.google.ca/books?id=GOPvHG3AL4YC&pg=PA147&lpg=PA...
DELAI DE RETROCESSION :
Les allotements mis à disposition de LA LLP RESERVER PAS CHER, sont soumis à un délai de rétrocession :
- J-0 en Basse Saison (du __________________________________ au __________________________________)
- J-7 en Haute Saison (du___________________________________ au __________________________________)
A défaut d’avoir reçu une réservation avant le début du Délai de Rétrocession, le Partenaire retrouve la libre disposition de la (des) chambre(s).
http://www.reserverpascher.net/doc/1/Contratloc_tunisie.pdf
Also, in some Tunisian hotel websites, the rate schedule has a ''délai de rétrocession'' category, translated on one website as ''release'':
http://www.hotelriadhpalms.com/cr2.resa/ui/aba/Hotel_Detail....
''délai de rétrocession'' in French is given as ''release day'', which is a poor translation, I think.
--------------------------------------------------
Note added at 16 hrs (2010-08-04 10:38:39 GMT)
--------------------------------------------------
I believe it means that the tour operator has up to the 24 hours before his booked arrival date at the hotel to cancel. And in your case, Mark, there may even be flexibility with the 24-hour period.
Note from asker:
| Many thanks for your help on this! |
Peer comment(s):
| agree |
philgoddard
: Good references, and I believe this is more likely than "refund".
13 hrs
|
|
Thanks, Phil.
|
|
| agree |
Emma Paulay
: Now that's convincing!
1 day 5 hrs
|
|
Thanks, Emma.
|
4 KudoZ points awarded for this answer.
+5
6 mins
refund
Hi!
Yes, from the context you have given it seems that the customer will be refunded for the meals not consumed.
Yes, from the context you have given it seems that the customer will be refunded for the meals not consumed.
Note from asker:
| Thank you! |
Peer comment(s):
| agree |
kashew
12 mins
|
| agree |
Michel F. Morin
: Yes
3 hrs
|
| agree |
Chris Hall
3 hrs
|
| agree |
MatthewLaSon
: I would think so.
10 hrs
|
| agree |
mimi 254
14 hrs
|
-4
10 mins
GillW (MCIL)
Native in English
Works in field
All matters financial
Native in: English (Variant: British)
Works in: French to English, Spanish to English, Italian to English
Related KudoZ points
:
4
kickback
kickback is a less formal way of saying that part of the commission is paid back. I think retrocession is used more in the financial world, whereas this term seems to be relating to uneaten meals.
--------------------------------------------------
Note added at 19 mins (2010-08-03 18:39:18 GMT)
--------------------------------------------------
Retrocession is the term for the kickbacks, trailer fees, finders fees and other payments made to Asset Managers (Vermögensverwalter) by banks and other financial institutions in Switzerland. These payments are made from client money, but are often still not disclosed to clients.
--------------------------------------------------
Note added at 45 mins (2010-08-03 19:05:12 GMT)
--------------------------------------------------
to all you disbelievers out there - type in retrocession and kickback in Google and you will see it appears on the websites of many asset managers and corporate lawyers. It is an acceptable term in the financial world.
--------------------------------------------------
Note added at 19 mins (2010-08-03 18:39:18 GMT)
--------------------------------------------------
Retrocession is the term for the kickbacks, trailer fees, finders fees and other payments made to Asset Managers (Vermögensverwalter) by banks and other financial institutions in Switzerland. These payments are made from client money, but are often still not disclosed to clients.
--------------------------------------------------
Note added at 45 mins (2010-08-03 19:05:12 GMT)
--------------------------------------------------
to all you disbelievers out there - type in retrocession and kickback in Google and you will see it appears on the websites of many asset managers and corporate lawyers. It is an acceptable term in the financial world.
Note from asker:
| Thanks! |
Peer comment(s):
| disagree |
philgoddard
: A kickback is a bribe! http://www.google.com/search?hl=en&client=firefox-a&hs=rdh&r...
4 mins
|
| disagree |
kashew
: Too informal! A kickback may be in the form of cash or favors, and can be legal or illegal.
6 mins
|
| disagree |
AllegroTrans
: completely non a propos - are you serious?
31 mins
|
| disagree |
Chris Hall
: http://en.wikipedia.org/wiki/Kickback - Political corruption or bribery.
1 hr
|
1 hr
credit
*
16 hrs
Sarah Bessioud
Germany
Germany
Native in English
Specializes in field
Germany
A way with words
Native in: English (Variants: British, UK, US)
Works in: German to English, French to English, English
Related KudoZ points
:
16
release (time)
The fact that your text mentions 24 hours leads me to believe that the source text should read "délai de rétrocession", which means release time. (Rétrocession = release)
It is quite common for tour operators, hotels and other travel/tourism companies to hold or "allocate" rooms or seats for particular corporate clients or agencies on particular dates. This provides guaranteed availability to these customers because the supplier is not allowed to sell these seats/rooms/services during this time. It also helps the tour operator, hotel etc. get "bums in beds" or "bums on seats".
At a certain point, known as the realease time, if these rooms/seats/tours have not been sold, they are "released" back into the supplier's stock and can go on general sale. In this example, the release time is 24hours, which would mean 24 hours before the service is due to take place. From what I understand, there is room for negotiation to allow shorter or longer realease times, which would be useful to better manage inventory at peak times for example.
It is quite common for tour operators, hotels and other travel/tourism companies to hold or "allocate" rooms or seats for particular corporate clients or agencies on particular dates. This provides guaranteed availability to these customers because the supplier is not allowed to sell these seats/rooms/services during this time. It also helps the tour operator, hotel etc. get "bums in beds" or "bums on seats".
At a certain point, known as the realease time, if these rooms/seats/tours have not been sold, they are "released" back into the supplier's stock and can go on general sale. In this example, the release time is 24hours, which would mean 24 hours before the service is due to take place. From what I understand, there is room for negotiation to allow shorter or longer realease times, which would be useful to better manage inventory at peak times for example.
Note from asker:
| Great! Thanks! |
Reference comments
5 mins
AllegroTrans
United Kingdom
United Kingdom
Native in English
Specializes in field
United Kingdom
Sensible solutions
Native in: English (Variant: Wessexois)
Works in: French to English, English, English to French
Related KudoZ points
:
27
Reference:
retrocession
1. The practice of one reinsurance company essentially insuring another reinsurance company by accepting business that the other company had agreed to underwrite.
2. The voluntary act of returning ceded property from one group to another. Retrocession can also be the result of a request to have property returned but, by definition, is not the result of a forced transaction.
3. The process of differentiating or diversifying assets by consolidating and then subdividing them amongst a number of stakeholders.
Investopedia Says:
1. When one reinsurance company has other reinsurance companies partially underwrite some of its reinsurance risk, it essentially diversifies its risk portfolio and limits its potential losses as a result of a catastrophe. For example, if a hurricane causes widespread damage to businesses, homes, automobiles and lives, a single insurer could face bankruptcy without retrocession.
2. The best known international act of retrocession is when Hong Kong was given back to the Chinese from the British in 1997.
3. Hedge funds often buy very valuable single assets and divide them on a pro-rata basis amongst partnership unitholders. Just as risk and liabilities can be retroceded, so can assets.
2. The voluntary act of returning ceded property from one group to another. Retrocession can also be the result of a request to have property returned but, by definition, is not the result of a forced transaction.
3. The process of differentiating or diversifying assets by consolidating and then subdividing them amongst a number of stakeholders.
Investopedia Says:
1. When one reinsurance company has other reinsurance companies partially underwrite some of its reinsurance risk, it essentially diversifies its risk portfolio and limits its potential losses as a result of a catastrophe. For example, if a hurricane causes widespread damage to businesses, homes, automobiles and lives, a single insurer could face bankruptcy without retrocession.
2. The best known international act of retrocession is when Hong Kong was given back to the Chinese from the British in 1997.
3. Hedge funds often buy very valuable single assets and divide them on a pro-rata basis amongst partnership unitholders. Just as risk and liabilities can be retroceded, so can assets.
Peer comments on this reference comment:
| neutral |
philgoddard
: None of these fits the context.
2 mins
|
|
Only contributed to set the ball rolling. Thanks!
|
Discussion
→ C’est le délai sous lequel le tour operator doit confirmer la réservation des chambres qu’il a faite à un hôtel, un club…
http://www.intellego.fr/soutien-scolaire-Terminale-Hotelleri...
Ici, les belles manières ne sont pas au rendez-vous.