English translation: assignment (or cession) of receivables in exchange for fictitious revenues
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02:53 Nov 18, 2006
Italian to English translations [PRO] Bus/Financial - Business/Commerce (general)
Italian term or phrase:cessione dei crediti per ricavi fittizi
La prima operazione è costituita dalla cessione dei crediti per ricavi fittizi e per distrazioni fondi all YYY.
This is a confimation more than anything. I ma translating this as:
The first transaction/operation is composed of the assignment of credits in exchange for fictitious proceeds/revenues as well as for diversion funds to YYY.
Is this the best way to translate this.
The receivables or debtors, you both added strcitly UK....why is that?
Is this an important distinction between US and UK.
Automatic update in 00:
3 hrs confidence: peer agreement (net): +2
assignment (or cession) of receivables in exchange for fictitious revenues
Explanation: "crediti" are either "receivables" or "debtors" (strictly UK), but never "credits"
Peter Cox Italy Local time: 10:21 Specializes in field Native speaker of: English PRO pts in category: 246
Thanks Peter :-)
3 hrs confidence:
transfer of receivables/debtors(uk)/assets/loans/debts for fictitious revenues
Explanation: "The first operation consisted of the transfer of receivables/assets/debts for fictitious revenues".
Cessione is very often a sale, but strictly speaking it is the transfer of ownership. The crediti can be receivables, in which case they constitute an asset and can be called an asset. When a bank transfers or sells loans it has granted to a debt collection specialist, it is selling the bad debts, so the "crediti" become "debts".
A "receivable" is more usual for short term items, while an asset is more usual for long term items, but its not a strict rule.
James (Jim) Davis Seychelles Local time: 12:21 Specializes in field Native speaker of: English PRO pts in category: 1880