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German to English translations [PRO] Bus/Financial
German term or phrase:Aufschiebend bedingt durch...
Aufschiebend bedingt durch die Erfüllung des Kaufpreises für die Forderung durch die Bank an den Lieferanten tritt der Lieferant bereits jetzt die jeweilige Forderung an die Bank ab, die die Abtretung annimmt.
Explanation: I am dubious abut the above translation.
An “aufschiebende Bedingung” is a ‘condition precedent’ in legal terms (c.f aufLÖSENDE Bedingung which is a condition subsequent) see e.g. Hamblock/Wessels.
I assume the term comes from a contract selling receivables to a bank (perhaps some kind of factoring arrangement) and I think that, in this case, the condition precedent is the “Erfullung des Kaufpreises für die Forderung durch die Bank” i.e. the Lieferant assigns the receivable to the bank, and this assignment is documented in the contract but will only actually take place if the Bank has paid for the receivable, so a rough and ready translation would be something like (original German sentence structure retained here for clarity) -
“Subject to the condition precedent that the bank has paid the purchase price for the receivable/claim/account receivable to the supplier, the supplier hereby assigns said receivable to the bank, which accepts this assignment”
berelin Local time: 21:53 Native speaker of: English PRO pts in pair: 115