Verwendungsnachweis/Avalgeschäft

English translation: see below

05:20 Aug 9, 2000
German to English translations [PRO]
Bus/Financial - Finance (general)
German term or phrase: Verwendungsnachweis/Avalgeschäft
Diesem Schreiben liegen ein Vordruck für den Verwendungsnachweis sowie die Bedingungen für das Avalgeschäft bei.
The letter concerns an investment grant that has been awarded for extension of a factory. Verwendungsnachweis presumably refers to proving that the grant is used for its proper purpose but I can't think of a good phrase in English. I have no idea what Avalgeschäft is. Any ideas?
Julie
English translation:see below
Explanation:
Just a suggestion: something like documentation/proof of appropriate use or (alternatively)of proper appropriation (of the funds)?
According to Dietl/Lorenz, Aval is guarantee (or guaranty) of a bill (of exchange); Aval konto is a guarantee account; Avalkredit is credit by way of bank guarantee or guarantee credit. So Bedingungen für das Avalgeschäft could be terms of the guaranty arrangement?
HTH, Beth
Selected response from:

Beth Kantus
United States
Local time: 12:52
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
naproof of appropriation/aval (liability)
Dierk Seeburg
nasee below
Beth Kantus


  

Answers


43 mins
see below


Explanation:
Just a suggestion: something like documentation/proof of appropriate use or (alternatively)of proper appropriation (of the funds)?
According to Dietl/Lorenz, Aval is guarantee (or guaranty) of a bill (of exchange); Aval konto is a guarantee account; Avalkredit is credit by way of bank guarantee or guarantee credit. So Bedingungen für das Avalgeschäft could be terms of the guaranty arrangement?
HTH, Beth


Beth Kantus
United States
Local time: 12:52
Native speaker of: English
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1 hr
proof of appropriation/aval (liability)


Explanation:
"Enclosed are a form for proof of appropriation as well as conditions for the aval (liability)."

Aval is a Wechselbürgschaft and as such it seems to refer to the loan guarantee for the extension of the factory. And as you surmised, the Verwendungsnachweis does refer to proving that the grant is used for its proper purpose.


    Reference: http://eurodic.ip.lu/cgi-bin/edicbin/EuroDicWWW.pl
    Reference: http://dict.leo.org/?search=appropriation&lang=en
Dierk Seeburg
Local time: 10:52
Native speaker of: Native in GermanGerman
PRO pts in category: 4
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