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maestranze
in contraddittorio

Glossary entry

Italian term or phrase:

mese solare

English translation:

calendar month/solar month

Added to glossary by Dr Andrew Read
Dec 6, 2004 17:03
19 yrs ago
5 viewers *
Italian term

mese solare (urgent help with sentence)

Italian to English Law/Patents Law: Contract(s) Also financial
Horrible clause in the terms of a purchase order, detailing interest on arrears. Does "mese solare" mean calendar month, and how might you translate the bit between stars below (having trouble sorting it out)!!!

Thanks v much in advance

In caso di ritardo nei pagamenti oltre il termine contrattuale... sono dovuti interessi di mora ... nella misura del tasso legale di interesse, fissato ex art.. 1284 c.c., per i primi 60 giorni di ritardo e, dal sessantunesimo giorno in poi, della media aritmetica delle quotazioni dell'Euribor *a un mese calcolata sul mese solare precedente* a quello in cui cade il sessantunesimo giorno dalla scadenza della fattura, aumentatata di due punti percentuali.
Proposed translations (English)
4 +4 calendar month
5 solar month which is the same as "month", but it is 1/12 of a year, i.e. longer than 30 days ,,,

Discussion

Riccardo Schiaffino Dec 6, 2004:
sorry, just a misspelling: I was typing too fast without looking at the keyboard, and evidently the fingers slipped. "30-day average".
Non-ProZ.com Dec 6, 2004:
@Riccardo What does "ro-day" mean? Sorry, finance not my best field!
Non-ProZ.com Dec 6, 2004:
@Riccardo

Proposed translations

+4
3 mins
Selected

calendar month

on a ro-day average of the Euribor rates, calculated on the month preceding the month in which...

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Note added at 29 mins (2004-12-06 17:32:53 GMT)
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I mean: \"on a 30-day average...\"
Peer comment(s):
agree esoft : yes, calendar month
11 mins
agree indiawharf
21 hrs
agree Rick Henry
1 day 4 hrs
agree locker : locker
1 day 21 hrs
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3 KudoZ points awarded for this answer. Comment: "Points to Riccardo for the swiftness of his answer and help with phrasing, but big thanks to Dee as well - I did include your comments in a note to my client! "
39 mins

solar month which is the same as "month", but it is 1/12 of a year, i.e. longer than 30 days ,,,

... but not 31, see def. in
solar month - yourDictionary.com - American Heritage Dictionary - [ Traduire cette page ]
... Search: Normal. (Pronunciation Key). solar month n. One twelfth of a solar
year, totaling 30 days, 10 hours, 29 minutes, 3.8 seconds. ...
www.yourdictionary.com/ahd/s/s0544500.html

BUT MORE IMPORTANTLY, the arithmetic average you have to calculate is that of the

"1 MONTH Euribor rate calculated over the prior [solar] month".

[as opposed to, say, the 3 month or 6 month Euribor!]

I would leave the "solar" in because it might ultimately make a difference to the figures.

I have seen "solar days" defined as "noon to noon", so it would also depend on how the Euribor rate for any one day is defined [at what market at what time?]

HTH

Dee

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Note added at 2 hrs 8 mins (2004-12-06 19:11:01 GMT)
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To Richard: You\'re not understanding. What is averaged is the interest rate; question is which days [30 or 31, when do we start/end?] are taken into account; the rate on the first or last day may [relatively] significantly bias the average. Depending on what is being purchased, 1/100 of one per cent can make a significant difference in the late payment interest due [I do lots of translations related to power plants, for example]. And it *is* cumulative from day 61 onwards. And if this happens with lots of customers and they all dispute the charges, then it\'s even more cumulative. It\'s up to Andrew to decide, but I think your approach is, shall we say, pregnant with risk. Clear definition is essential in a contractual document.
Peer comment(s):
neutral Richard Benham : Of course you're right in theory, but I can't imagine accountants suddenly becoming astronomers: [...]//It might be a good idea to leave it in, but the difference doesn't mount up: it's an average over the LAST period of whatever, not cumulative.
56 mins
I'd rather be right in theory and not have to tell the judge "well your honour, I *imagined* ..." ... the difference can become humongous by the time there's a class action if people feel cheated, say.
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