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Befreiung durch Hinterlegung

English translation: discharge by deposit

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Befreiung durch Hinterlegung
English translation:discharge by deposit
Entered by: Maureen Holm, J.D., LL.M.
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21:01 Jan 18, 2003
German to English translations [PRO]
Bus/Financial - Law: Contract(s)
German term or phrase: Befreiung durch Hinterlegung
2. Der Mieter kann die Mietsicherheit jederzeit durch eine unbefristete, unwiderrufliche, selbstschuldnerische Bürgschaft über 1.800,00 EUR eines deutschen Kreditinstitutes ersetzen unter Verzicht auf Einreden der Anfechtbarkeit, der Aufrechenbarkeit und der Vorausklage (§§ 768, 770, 771 BGB). Die Bürgschaft muß unter Verzicht auf die *Befreiung durch Hinterlegung* auf erstes Anfordern in Anspruch genommen werden können.
Maureen Holm, J.D., LL.M.
United States
Local time: 17:10
discharge by deposit
Explanation:
the obligation cannot be discharged by depositing, lodging etc. the money owed with a third party.

Referring to the primary obligation rather than the guarantee, presumably.
Selected response from:

Per Incuriam
Grading comment
Thank you all. I was quite sure this was a waiver of rights to substitute collateral. I still, frankly, find it a bit impractical to visualize a bank depositing cash elsewhere to cover its obligation under a guaranty, but Per Incuriam has indicated that this is the practice.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2discharge by deposit
Per Incuriam
5release of deposit
Samantha Richardson
4my take
gangels
2No translation, but maybe this will help
Kim Metzger


  

Answers


19 mins   confidence: Answerer confidence 5/5
release of deposit


Explanation:
Would be my suggestion...

Samantha Richardson
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
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59 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5
No translation, but maybe this will help


Explanation:
Dear Maureen,
I don't know much about your subject, but I found a previous KudoZ question that appears to be relevant and thought you might get some help there.


    Reference: http://www.proz.com/?sp=h&id=10445&keyword=Hinterlegung
Kim Metzger
Mexico
Local time: 16:10
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1209
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
discharge by deposit


Explanation:
the obligation cannot be discharged by depositing, lodging etc. the money owed with a third party.

Referring to the primary obligation rather than the guarantee, presumably.


Per Incuriam
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thank you all. I was quite sure this was a waiver of rights to substitute collateral. I still, frankly, find it a bit impractical to visualize a bank depositing cash elsewhere to cover its obligation under a guaranty, but Per Incuriam has indicated that this is the practice.

Peer comments on this answer (and responses from the answerer)
agree  Richard Hall: Yes, absolutely correct. In Germany it is normal practice for a guarantor to be released from his obligations under the guarantee by making a deposit of the guaranteed amount with a third party.
8 hrs
  -> I see, so it's the guarantor's obligation then, I wasn't sure about that

agree  Ron Stelter
16 hrs
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17 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
my take


Explanation:
The letter of credit shall be callable upon instant demand under a waiver of release by deposit.

Meaning once the letter of credit has been issued it cannot be replaced or superseded by a later 'selbstschulnerische Bürgschaft' of the tenant

gangels
Local time: 15:10
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in category: 329
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Changes made by editors
Dec 7, 2010 - Changes made by Steffen Walter:
FieldLaw/Patents » Bus/Financial
Field (specific)(none) » Law: Contract(s)
Field (write-in)Befreiung durch Hinterlegung » (none)


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