Oct 19, 2006 11:00
17 yrs ago
48 viewers *
Italian term
"recesso"
Italian to English
Bus/Financial
Finance (general)
loans
Si discute del contratto per un finanziamento (prestito)
'... vorrei sapere se in tale contratto è previsto il recesso da parte di xxxxx e, se sì, in quali circostanze.'
Mi sono sempre chiesto qual'è la migliore traduzione, withdrawal , termination, cancellation ?
'... vorrei sapere se in tale contratto è previsto il recesso da parte di xxxxx e, se sì, in quali circostanze.'
Mi sono sempre chiesto qual'è la migliore traduzione, withdrawal , termination, cancellation ?
Proposed translations
(English)
| 4 +1 | withdrawal or termination |
Patricia Crotty
|
| 3 +5 | withdrawal |
Umberto Cassano
|
| 5 +1 | call |
DCypher (X)
|
| 5 | withdrawal |
Serena Bocchi
|
| 5 | rescindment clause |
Rosanna Palermo
|
Proposed translations
+1
2 hrs
Italian term (edited):
recesso
Selected
withdrawal or termination
Broadly (and not to be taken as gospel!)
"termination" of a contract can come about by mutual agreement of the parties or one of the parties defaulting and the other party exercising the right to terminate.
"withdrawal" as I see it is often just the right of one of the parties to end the agreement due to default by another, so it's actually the same as termination (or a subset). You can't withdraw from a contract before it starts because there's nothing to withdraw from.
Rescission is unmaking the contract from the very beginning to put the parties back into the position they were before they started due to some inherent defect
Cancellation I think is just a catchall term that includes all of the above
In your case I presume it's the borrower asking the question so the lender can "withdraw" (or simply "terminate" the contract by right) from the contract if the borrower is in breach for some reason and so making him/her liable to repay before the due date.
"termination" of a contract can come about by mutual agreement of the parties or one of the parties defaulting and the other party exercising the right to terminate.
"withdrawal" as I see it is often just the right of one of the parties to end the agreement due to default by another, so it's actually the same as termination (or a subset). You can't withdraw from a contract before it starts because there's nothing to withdraw from.
Rescission is unmaking the contract from the very beginning to put the parties back into the position they were before they started due to some inherent defect
Cancellation I think is just a catchall term that includes all of the above
In your case I presume it's the borrower asking the question so the lender can "withdraw" (or simply "terminate" the contract by right) from the contract if the borrower is in breach for some reason and so making him/her liable to repay before the due date.
Note from asker:
| Thanks very much, Patricia, its one of those terms I've been translating for years wondering which of the three is correct. I'll leave it up here, though and see if anyone else has anything to add. |
4 KudoZ points awarded for this answer.
Comment: "Thank you Patricia"
29 mins
Serena Bocchi
Native in Italian
Native in: Italian 
Works in: English to Italian, Italian to English, French to English, and 1 more.
Italian term (edited):
recess
withdrawal
withdrawal
+5
8 mins
Umberto Cassano
Italy
Italy
Native in Italian
Works in field
Italy
Translating and teaching with skill
Native in: Italian
Works in: English to Italian, Italian to English
Related KudoZ points
:
12
Italian term (edited):
recesso
withdrawal
I hope it helps...
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Note added at 1 hr (2006-10-19 12:01:39 GMT)
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What is the scope of the Directive?
The directive covers businesses’ behaviour in relation to transactions with consumers where this affects consumers’ economic behaviour. In other words, practices that impact on decisions like whether or not to buy a product, and if so from whom. This definition also covers behaviour that might influence consumers' decisions on whether or not to exercise a right under a contract with a business, like making a claim on an insurance policy for instance, or exercising a right to return goods, ***withdraw from a loan contract*** or end a subscription.
The directive does not cover businesses’ dealings with other businesses. Nor does it cover any matters of taste or decency, health and safety or contract law.
http://europa.eu.int/rapid/pressReleasesAction.do?reference=...
"The text also gives more leeway for governments to adapt certain rules and gives consumers 14 days to ***withdraw from a loan contract***. "
http://www.ft.com/cms/s/8735f0ea-39c0-11da-806e-00000e2511c8...
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Note added at 1 hr (2006-10-19 12:01:39 GMT)
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What is the scope of the Directive?
The directive covers businesses’ behaviour in relation to transactions with consumers where this affects consumers’ economic behaviour. In other words, practices that impact on decisions like whether or not to buy a product, and if so from whom. This definition also covers behaviour that might influence consumers' decisions on whether or not to exercise a right under a contract with a business, like making a claim on an insurance policy for instance, or exercising a right to return goods, ***withdraw from a loan contract*** or end a subscription.
The directive does not cover businesses’ dealings with other businesses. Nor does it cover any matters of taste or decency, health and safety or contract law.
http://europa.eu.int/rapid/pressReleasesAction.do?reference=...
"The text also gives more leeway for governments to adapt certain rules and gives consumers 14 days to ***withdraw from a loan contract***. "
http://www.ft.com/cms/s/8735f0ea-39c0-11da-806e-00000e2511c8...
Note from asker:
| Yes, but does that mean, in the specific context of a legal loan contract that "cancel" or "terminate" are wrong? And if so is that because they have a different meaning? |
| I've often come across the example you cite, but its highly specific and always refers to a right for consumers to withdraw before the contract has really started. There are no consumers in my contract and the right could be at any time. The lenders right to end the contract would require the borrower to repay the principal. The question the person is asking is "could we be asked to repay the loan before the due date?". |
| Thank you Umberto |
Peer comment(s):
| agree |
Petja Mladenova
1 min
|
|
Thanks Petja!
|
|
| agree |
Caterina Passari
: yes:)
56 mins
|
|
Grazie Caterina !
|
|
| agree |
Peter Cox
3 hrs
|
|
thanks Peter !
|
|
| agree |
Jean Martin
5 hrs
|
|
thanks Jean !
|
|
| agree |
maryrose
11 hrs
|
|
thanks maryrose
|
14 hrs
Rosanna Palermo
Native in Italian
&
English
Specializes in field
Accuracy matters - La precisione conta
Native in: Italian , English (Variant: US)
Works in: Italian to English
Related KudoZ points
:
163
rescindment clause
A rescindment clause is a provision that allows for the contract to be altered, modified or be declared null and void by one or more parties.
"I'd like to know if the contract includes a rescindment clause "
re‧scind /rɪˈsɪnd/ Pronunciation Key - Show Spelled Pronunciation[ri-sind] Pronunciation Key - Show IPA Pronunciation
–verb (used with object) 1. to abrogate; annul; revoke; repeal.
2. to invalidate (an act, measure, etc.) by a later action or a higher authority.
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[Origin: 1630–40; < L rescindere to tear off again, cut away, equiv. to re- re- + scindere to tear, divide, destroy]
—Related forms
re‧scind‧a‧ble, adjective
re‧scind‧er, noun
re‧scind‧ment, noun
—Synonyms 1. nullify; retract, withdraw. 2. countermand, repeal, veto.
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Note added at 14 hrs (2006-10-20 01:13:36 GMT)
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or
I would like to know if the contract covers the possibility of XXX rescinding, and if so, under which circumstances
or
if the contract allows rescindment/provides for rescindment by XXX
"I'd like to know if the contract includes a rescindment clause "
re‧scind /rɪˈsɪnd/ Pronunciation Key - Show Spelled Pronunciation[ri-sind] Pronunciation Key - Show IPA Pronunciation
–verb (used with object) 1. to abrogate; annul; revoke; repeal.
2. to invalidate (an act, measure, etc.) by a later action or a higher authority.
--------------------------------------------------------------------------------
[Origin: 1630–40; < L rescindere to tear off again, cut away, equiv. to re- re- + scindere to tear, divide, destroy]
—Related forms
re‧scind‧a‧ble, adjective
re‧scind‧er, noun
re‧scind‧ment, noun
—Synonyms 1. nullify; retract, withdraw. 2. countermand, repeal, veto.
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Note added at 14 hrs (2006-10-20 01:13:36 GMT)
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or
I would like to know if the contract covers the possibility of XXX rescinding, and if so, under which circumstances
or
if the contract allows rescindment/provides for rescindment by XXX
Note from asker:
| Thank you RF. Have you got a first name? RFmoon is so formal. ;-) |
+1
7 hrs
call
The lender sometimes has the contractual right to "call the loan". This is typically tied to certain conditions - contractual or economic - changing.
I assume from your other comments that we are talking about a commercial loan.
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Note added at 7 hrs (2006-10-19 18:28:22 GMT)
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that is, breach of covenant and/or economic....
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Note added at 7 hrs (2006-10-19 18:37:53 GMT)
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Could the bank push for the restructuring? If the bank has no priority, the borrower may choose to ignore the bank's wishes (i.e. the bank could threaten to call the loan, but the borrower - anticipating the dreadful consequences not only for himself but also for the bank - realizes that the bank would never carry out such a threat). When the bank has priority, the prioritized claim may nsulate the bank from these dreadful consequences. It could now credibly threaten to call the loan. This identifies an important advantage of
bank financing: timely intervention.
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Note added at 7 hrs (2006-10-19 18:39:18 GMT)
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The interest rate is fixed at 5.66% for the first ten years and then will be reset to a market rate. The lender has the option to call the loan on April 15, 2013 or any time thereafter.
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Note added at 7 hrs (2006-10-19 18:42:25 GMT)
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Once the money is granted, IFC leverage declines slowly with time. IFC always has the option to strongly persuade the client to change their activity and in the worse case scenario, call the loan.
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Note added at 1 day1 hr (2006-10-20 12:08:10 GMT)
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Here is your dictionary definition (should you need it :) )
http://www.answers.com/topic/call-27
I assume from your other comments that we are talking about a commercial loan.
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Note added at 7 hrs (2006-10-19 18:28:22 GMT)
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that is, breach of covenant and/or economic....
--------------------------------------------------
Note added at 7 hrs (2006-10-19 18:37:53 GMT)
--------------------------------------------------
Could the bank push for the restructuring? If the bank has no priority, the borrower may choose to ignore the bank's wishes (i.e. the bank could threaten to call the loan, but the borrower - anticipating the dreadful consequences not only for himself but also for the bank - realizes that the bank would never carry out such a threat). When the bank has priority, the prioritized claim may nsulate the bank from these dreadful consequences. It could now credibly threaten to call the loan. This identifies an important advantage of
bank financing: timely intervention.
--------------------------------------------------
Note added at 7 hrs (2006-10-19 18:39:18 GMT)
--------------------------------------------------
The interest rate is fixed at 5.66% for the first ten years and then will be reset to a market rate. The lender has the option to call the loan on April 15, 2013 or any time thereafter.
--------------------------------------------------
Note added at 7 hrs (2006-10-19 18:42:25 GMT)
--------------------------------------------------
Once the money is granted, IFC leverage declines slowly with time. IFC always has the option to strongly persuade the client to change their activity and in the worse case scenario, call the loan.
--------------------------------------------------
Note added at 1 day1 hr (2006-10-20 12:08:10 GMT)
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Here is your dictionary definition (should you need it :) )
http://www.answers.com/topic/call-27
Note from asker:
| Cheers Paul |
Discussion
Thank you again every one, and now down to the next file!
technically it is a "call" clause, but in the context, I think its too technical to put it into the words of the speaker, who probably wouldn't know what a call clause was. I think I'll go for "termination", or better. Here, there are summones flying around all over the place over this one. Termination or withdrawal is something I can easily find in a dictionary and say, hey look, this is what the word means. Hope it doesn't come anywhere near that though. Its all useful stuff, though. Oh and I'm on a very tight deadline.
Cheers