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Sicherungszweck/Sicherheitenverträge

English translation: purpose of collateral

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Sicherungszweck
English translation:purpose of collateral
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08:24 Oct 14, 2001
German to English translations [PRO]
Bus/Financial
German term or phrase: Sicherungszweck/Sicherheitenverträge
Einzelheiten, insbesondere der Sicherungszweck, wurden bzw. werden bei Abschluß der Sicherheitenverträge vereinbart. In diesem Zusammenhang werden Ihnen von unserer Filiale Frankfurt, AFK-Sicherheiten, neue Sicherungszweckerklärungen zugehen, die Sie bitte nach rechtsverbindlicher Unterzeichnung an uns zurückzusenden.
Kim Metzger
Mexico
Local time: 04:03
purpose of collateral / security agreement
Explanation:
Zahn lists Sicherungszweck --
purpose of collateral, purpose of security agreement

Der Sicherheitenvertrag would be the agreement which names the collateral against which the loan is made. Zahn gives Sicherungsvertrag - security agreement

Sicherheit f
(Fin) security
– collateral
(Re) collateral
– collateral security
[Schäfer]

Seems to me that you might not even need to spell out "purpose of collateral", but simply state that the details, such as the purpose of the agreement, will be specified at the time that the security agreement is signed. (Just a thought).

Anyway, I hope this helps.
Selected response from:

Ulrike Lieder
Local time: 02:03
Grading comment
Thanks Ulrike.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +5purpose of collateral / security agreementUlrike Lieder
4collateral agreement
Thijs van Dorssen
4pledged securities / agreement for assignment of collateralgangels


  

Answers


23 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
purpose of collateral / security agreement


Explanation:
Zahn lists Sicherungszweck --
purpose of collateral, purpose of security agreement

Der Sicherheitenvertrag would be the agreement which names the collateral against which the loan is made. Zahn gives Sicherungsvertrag - security agreement

Sicherheit f
(Fin) security
– collateral
(Re) collateral
– collateral security
[Schäfer]

Seems to me that you might not even need to spell out "purpose of collateral", but simply state that the details, such as the purpose of the agreement, will be specified at the time that the security agreement is signed. (Just a thought).

Anyway, I hope this helps.

Ulrike Lieder
Local time: 02:03
Native speaker of: German
PRO pts in pair: 3525
Grading comment
Thanks Ulrike.

Peer comments on this answer (and responses from the answerer)
agree  Ralf Lemster: I prefer "collateral"
15 mins

agree  Alexander Schleber: but shouldn't it also then be "collateral agreement" or ecollateral contract"??
1 hr

agree  Alison Schwitzgebel
4 hrs

agree  Hans-Henning Judek
9 hrs

agree  Narasimhan Raghavan: Came as answer to prayer for the document presently under translation. Sorry for the slight delay in agreeing but doing so along with Ralf couldn't be resisted.
1012 days
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30 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
pledged securities / agreement for assignment of collateral


Explanation:
Details as they concern pledged securities will be addressesed at the time of signing of the agreement for collateralization. In this context, our branch office Frankfurt, AFK-Sicherheiten, will send out new agreement forms which should be
returned to us with your notarized signature.

gangels
Local time: 03:03
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 5508
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38 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
collateral agreement


Explanation:
Boy, you two are too fast for me but I have thought about this one too long to simply delete.


This looks like a translation form English into German.

Details, especially concerning collateral, have been or will be agreed upon on conclusion (finalisation) of the contract. In this correlation you will receive a new collateral agreement (this is what they call them at Merrill and the Pru where I have worked for a decade and a half) from the credit departement of our branch office in Frankfurt, which are to be send back with legally valid signatures.


Bye

Please note that Abschluss is now with double s, not with ß. But it is the original text anyway.

Thijs van Dorssen
Local time: 11:03
PRO pts in pair: 39
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