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Hinterlegungsklausel

English translation: escrow clause

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Hinterlegungsklausel
English translation:escrow clause
Entered by: Dr. Fred Thomson
Options:
- Contribute to this entry
- Include in personal glossary

17:55 Nov 26, 2001
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: Hinterlegungsklausel
Die Buergschaftserklaerung darf keine Hinterlegungsklausel enthalten.
Lease agreement in which the lessee must provide a guarantee.
Dr. Fred Thomson
United States
Local time: 13:54
escrow clause
Explanation:
A Hinterlegungsklausel is a provision commonly used to enable the guarantor to provide a (monetary) guarantee in escrow, i.e. to deposit the funds with a third party, in case the party for whom guarantee is furnished defaults. Naturally, (in your case) the lessor would rather have direct access to the guarantee (bond) themselves than having it deposited with a third party.

I'm not aware of any specific term in English for this concept, my suggestion is therefore based on the overall concept.

"escrow = money or deed or other instrument deposited with a third party for delivery to a given party upon the fulfillment of some condition" (Random House Webster's Dictionary of the Law)
Selected response from:

Beate Lutzebaeck
New Zealand
Local time: 09:54
Grading comment
Thanks to both of you. I had already found "deposit" but didn't think it carried the idea in English. I appreciate your clear explanation, Darien, and "escrow" works like a charm.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +1escrow clauseBeate Lutzebaeck
4deposit clause
Translations4IT


  

Answers


20 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
deposit clause


Explanation:
Hinterlegungsklausel f
(Re) deposit clause

Translations4IT
Local time: 02:24
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 18

Peer comments on this answer (and responses from the answerer)
neutral  Beate Lutzebaeck: I tried to verify your suggestion but there are only three Hinterlegungs- composites in Schäfer Hyperbook, none of them Hinterlegungsklausel (which would be surprising anyway, given that it is a management dictionary)
34 mins
  -> Hi...I a have the business English dictionary by Schäfer - it's in there :-)
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52 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
escrow clause


Explanation:
A Hinterlegungsklausel is a provision commonly used to enable the guarantor to provide a (monetary) guarantee in escrow, i.e. to deposit the funds with a third party, in case the party for whom guarantee is furnished defaults. Naturally, (in your case) the lessor would rather have direct access to the guarantee (bond) themselves than having it deposited with a third party.

I'm not aware of any specific term in English for this concept, my suggestion is therefore based on the overall concept.

"escrow = money or deed or other instrument deposited with a third party for delivery to a given party upon the fulfillment of some condition" (Random House Webster's Dictionary of the Law)


    Relevant experience
Beate Lutzebaeck
New Zealand
Local time: 09:54
Specializes in field
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in category: 226
Grading comment
Thanks to both of you. I had already found "deposit" but didn't think it carried the idea in English. I appreciate your clear explanation, Darien, and "escrow" works like a charm.

Peer comments on this answer (and responses from the answerer)
agree  berelin: yes, hinterlegung is generally escrow - this is the elegant option
5 hrs
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Changes made by editors
Apr 6, 2008 - Changes made by Steffen Walter:
Field (specific)(none) » Law: Contract(s)


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