kaufmännische Fälligkeitszins
English translation: commercial (rate) deafault interest
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| 12:26 Jul 16, 2016 |
| German to English translations [PRO] Bus/Financial - Law: Contract(s) | |||||||
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|  Selected response from: AllegroTrans United Kingdom Local time: 08:58 | ||||||
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2 hrs confidence: 
Interest rate on arrears in commercial transactions between traders, accruing as from the due date Explanation: Interest rate on arrears in commercial transactions between traders, accruing as from the due date Rate of default interest in commercial transactions between traders, accruing as from the due date - the special feature, also in light of the context, which juxtaposes this to the statutory rate of default interest (https://www.gesetze-im-internet.de/bgb/__288.html) in Germany, here being that the creditor must not compound the interest accruing. This protects the debtor from usury, I believe. I am, however, still working on how the two types of rate of default interest really relate to one another. It's not fully clear to me. Basically both apply to non-consumers, which is traders. -------------------------------------------------- Note added at 2 hrs (2016-07-16 14:55:36 GMT) -------------------------------------------------- I am aware of the translation "merchant" (for Kaufmann under the HGB) from the technical literature on the German Commercial Code suggested by Ted, but prefer "trader", which is also sufficiently comprehensible, is not too inaccurate - and sounds better. -------------------------------------------------- Note added at 2 hrs (2016-07-16 15:01:23 GMT) -------------------------------------------------- I admittedly had to google for the legal basis for the gesetzlicher Verzugszins/statutory rate of default interest. I have to include a disclaimer here in regard to the legal basis provided for that, as it was done with the quickness and might be incorrect. HGB § 353/German Commercial Code, Sec. 353 is, however, definitely the correct legal basis for the interest rate on arrears in commercial transactions between traders, as indicated by Ted. Example sentence(s):
https://www.gesetze-im-internet.de/hgb/__353.html https://msdn.microsoft.com/en-us/library/hh937847(v=nav.90).aspx |
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5 hrs confidence:
(AE + BE) statutory interest for late payment of non-consumer debts Explanation: Terminological problem with merchants vs. traders - turn them into business people or non-cconsumers Example sentence(s):
Reference: http://www.linguee.de/deutsch-englisch/uebersetzung/kaufm%C3... Reference: http://www.christian-attorney.net/consumer_vs_non-consumer_d... |
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2 hrs confidence: peer agreement (net): +1
peer agreement (net): +1default interest (pursuant to section 353 HGB) Explanation: See section 353m which basically says for transactions between "merchants", they can demand interest on receivables from the due date. Also see http://www.proz.com/kudoz/german_to_english/law_contracts/22... -------------------------------------------------- Note added at 22 hrs (2016-07-17 10:50:21 GMT) -------------------------------------------------- "merchants" is in quotes for a reason, and while not the issue here, I will say that I would tend to agree with Adrian below and use "businesses, business people, etc. for Kaufleute in most instances. There are instances in legal translation where you do have to distinguish between, say a Kaufmann and a Gewerbetreibender, so not in all cases. The relevance of "kaufmännisch" here is that it modifies "interest" to mean interest under section 353, i.e., interest between Kaufmänner, hence my inclusion of the pertinent section in the translation. Reference: http://www.proz.com/kudoz/german_to_english/law_contracts/22... |
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2 hrs confidence: peer agreement (net): +1
peer agreement (net): +1commercial (rate) deafault interest Explanation: ... -------------------------------------------------- Note added at 2 hrs (2016-07-16 14:50:11 GMT) -------------------------------------------------- SORRY SP!! default not deafault -------------------------------------------------- Note added at 3 days4 hrs (2016-07-19 16:41:09 GMT) -------------------------------------------------- OR default interest at the commercial rate |
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