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взаимозачет

English translation: offset deals

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Russian term or phrase:взаимозачет
English translation:offset deals
Entered by: marfus
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13:25 Mar 2, 2001
Russian to English translations [PRO]
Russian term or phrase: взаимозачет
Есть вопросы, которыми не занимается никто. Например, взаимозачеты, 13% всех сделок в нашей стране.
John Sowerby
United Kingdom
Local time: 22:40
offset deals
Explanation:
offset deals

This term is very well known to any economist, accountant, or other financial officer. It renders fully the Russian "vzaimozachet" or "kliring", i.e. an arrangement, in which companies settle their accounts in goods and services, rather than in cash, or offset their cash obligations toward one another. MultiLex gives this self-explicit term (see below):

offset deal — зачёт покупок и продаж (в клиринговой системе

I would translate your sentence as follows:

There are issues that are fully unattended. For instance, offset deals, which make 13% of the entire number of transactions in our country.
Selected response from:

artyan
United States
Local time: 14:40
Grading comment
Thank you very much for your advice.
4 KudoZ points were awarded for this answer

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Summary of answers provided
naoffset dealsartyan
naoffset deals
Vladimir Pochinov
nareconciliation of debtsxxxxeni
naoffset is used more frequently
Roy Cochrun
namutual cancellation of debtsLBNolen
namutual clearing of debts, offset of counter-claims
IRINA KNIZHNIK
namutual offsets
Roy Cochrun
namutual set-off, mutual setting betweeen two or more entities without etc.
ttagir
naremittance of debts
Natalie


  

Answers


17 mins
remittance of debts


Explanation:
remittance of debts

.. for energy and water. Right now they are holding talks about remittance of debts (vzaimozachet). If they are successful we can hope to solve part of the fuel ...
kabar.gov.kg/english/fei/1999/5/24.html

Natalie
Poland
Local time: 23:40
Native speaker of: Native in RussianRussian
PRO pts in pair: 3936
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24 mins
mutual clearing of debts, offset of counter-claims


Explanation:
This happens when both parties owe each other money for goods or services but neither party has the cash.


    common sense
IRINA KNIZHNIK
Local time: 17:40
Native speaker of: Russian
PRO pts in pair: 20
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33 mins
mutual offsets


Explanation:
I have looked at the translation in the Web site referenced in the previous answer. I believe the translator of that page got it wrong. Why? Look at other uses of the word зачет (search for it on Yandex or Aport). When translated as remittance of debts (which doesn't make sense, one normally remits payment), it does not fit. When translated as mutual offsets, it does.

Supporting this belief is the use of a couple translations in the United Nations Russian-English Economics Glossary: зачет is a "set-off" (In American English, an "offset.") зачет взаимных требований is "clearing," or "the process of setting items off agains each other and dealing only with net balances."


    Russian-English Economics Glossary, U.N. Language Service
    1996
Roy Cochrun
United States
Local time: 17:40
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 149
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56 mins
mutual set-off, mutual setting betweeen two or more entities without etc.


Explanation:
mutual set-off, mutual setting betweeen two or more entities without payeing or transferring real money, etc.

The problem is in the following: due to some specific conditions existing indeed in both the economy and financial system, there arises the problem of so-called non-payments. This can be illustrated as follows:
A plant A had an order for production of X from a state organ B. In view of, for instance, a budget sequestration, B has no finances to pay to A. But A used, say energy to produce X and must pay to C for this energy. In its turn, C must pay to the budget, or Pension Fund, or some taxes, or something similar (but, finally, to the state).

Clearly, in view of some specific conditions all this yelds the situation of non-payments. Therefore, one of solutions might be MUTUAL SET-OFF (excuse me, but I do prefer to use here this "set-off" rather than "offset":) or mutual settings (without paying real money). This lightens all positions, because, in view of debts or empty bank accounts, B and C cannot pay to their workers, B cannot pay to teachers, B and C cannot get credits in banks, etc.

Please refer to
Большой англо-русский русско-английский словарь по бизнесу.

Yours,
Dr. Tagir S. Tagirov
KSU




    Lingvo 6.5 (economy+universal)
ttagir
Local time: 01:40
Native speaker of: Native in RussianRussian, Native in TatarTatar
PRO pts in pair: 492
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2 hrs
mutual cancellation of debts


Explanation:
If your audience is composed mainly of lay persons, this will work fine. If your audience is businessmen and accountants, then "setoff", as suggested by TTagir (though without the hyphen), might be preferable. Random House Webster's Unabridged English Dictionary had this definition of "setoff":

[Accounting] a counterbalancing debt or claim, esp. one that cancels an amount a debtor owes.

RHWUED had nothing under "offset" (suggested by others) that related to accounting.


    Random House Webster's Unabridged English Dictionary
    common sense
LBNolen
United States
Local time: 14:40
PRO pts in pair: 3
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2 hrs
offset is used more frequently


Explanation:
Regardless what the Random House dictionary says, the term is "offset." I politely request that translators enter the phrase "offset debt" into a good Web search engine, such as Google. Then enter "setoff debt." In quotes, the former has 285 hits, the latter 163. Without quotes, the former has 390,000 while the latter has a mere 5,800 hits.


    Reference: http://www.google.com/
Roy Cochrun
United States
Local time: 17:40
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 149
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7 hrs
offset deals


Explanation:
offset deals

This term is very well known to any economist, accountant, or other financial officer. It renders fully the Russian "vzaimozachet" or "kliring", i.e. an arrangement, in which companies settle their accounts in goods and services, rather than in cash, or offset their cash obligations toward one another. MultiLex gives this self-explicit term (see below):

offset deal — зачёт покупок и продаж (в клиринговой системе

I would translate your sentence as follows:

There are issues that are fully unattended. For instance, offset deals, which make 13% of the entire number of transactions in our country.


    Electronic dictionaries and web search.
artyan
United States
Local time: 14:40
Native speaker of: Native in RussianRussian
PRO pts in pair: 134
Grading comment
Thank you very much for your advice.

Peer comments on this answer (and responses from the answerer)
Vladimir Pochinov
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10 hrs
offset deals


Explanation:
Dear John,

I recommend that you opt for artyan's suggestion. However, I would have translated the entire sentence somewaht differently:

"There are issues that are fully unattended. For instance, offset deals that account for 13% of all transactions in our country."

Trust the professional, John. We have operated a joint venture company with a British airline for 10 years.

Good luck!

Vladimir Pochinov
Russian Federation
Local time: 00:40
Native speaker of: Native in RussianRussian
PRO pts in pair: 2209
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19 hrs
reconciliation of debts


Explanation:
Personal experience

xxxxeni
Native speaker of: Native in RussianRussian
PRO pts in pair: 142
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