Lease surrender premium costs

French translation: les primes versées au locataire par le bailleur en cas de résiliation d'un bail avec une valeur

21:53 Aug 22, 2018
English to French translations [PRO]
Bus/Financial - Finance (general) / Etats financiers et rapport annuel
English term or phrase: Lease surrender premium costs
In September 2017 the business renegotiated a new operating lease on its UK factory, resulting with release of the onerous lease provision made in 2015. The resulting lease surrender premium costs associated to the cancellation of the previous UK Lease was expensed to the profit and loss in 2017 and will be paid in quarterly installments over a 3 year period.

Merci :-)
EmmanuelleAnne
France
Local time: 07:14
French translation:les primes versées au locataire par le bailleur en cas de résiliation d'un bail avec une valeur
Explanation:
la valeur du bail en question est une valeur locative. voir ci-dessous

Lease Surrender. On the surrender of a Lease, it is always necessary to consider whether any VAT will be payable on any payment made by either the Landlord or the Tenant. There may be some value in the lease, in which case the Landlord may pay the Tenant a premium on the surrender.

https://droit-finances.commentcamarche.com/faq/323-preavis-d...

https://www.gouache.fr/articles/Articles/La-vie-du-franchise...
Selected response from:

Francois Boye
United States
Local time: 02:14
Grading comment
Merci :-)
4 KudoZ points were awarded for this answer



Summary of answers provided
4les primes versées au locataire par le bailleur en cas de résiliation d'un bail avec une valeur
Francois Boye
4 -2le coût (que représente) l'indemnité de résiliation prématurée du bail
Daryo
Summary of reference entries provided
I'm the tenant - get me out of here ...
Daryo

Discussion entries: 4





  

Answers


22 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
lease surrender premium costs
les primes versées au locataire par le bailleur en cas de résiliation d'un bail avec une valeur


Explanation:
la valeur du bail en question est une valeur locative. voir ci-dessous

Lease Surrender. On the surrender of a Lease, it is always necessary to consider whether any VAT will be payable on any payment made by either the Landlord or the Tenant. There may be some value in the lease, in which case the Landlord may pay the Tenant a premium on the surrender.

https://droit-finances.commentcamarche.com/faq/323-preavis-d...

https://www.gouache.fr/articles/Articles/La-vie-du-franchise...


Francois Boye
United States
Local time: 02:14
Specializes in field
Native speaker of: Native in FrenchFrench
PRO pts in category: 956
Grading comment
Merci :-)

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: you can keep deleting and reposting the same answer ad aeternum - it's not going by some miracle to make it right. // You keep turning the ST on its head - the tenant is the one paying the surrender premium NOT THE OTHER WAY ROUND!.
1 day 3 hrs
  -> It is not the same translation!

neutral  Germaine: 1. Il s'agit d'une simple indemnité d'abandon de bail. 2. C'est le locataire qui paie, pas le bailleur. Mais si c'est votre façon de faire, je signe avec vous n'importe quand! 3. "avec une valeur" ? vraiment?
2 days 2 hrs

agree  GILOU
4 days
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2 days 2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -2
lease surrender premium costs
le coût (que représente) l'indemnité de résiliation prématurée du bail


Explanation:
lease surrender premium costs = costs that consists of the payment of a premium to obtain the surrender of the lease

In September 2017 the business renegotiated a new operating lease on its UK factory, resulting with release of the onerous lease provision made in 2015.

this is written from the viewpoint of a business that "renegotiated a new operating lease on its UK factory"

theoretically this "business" COULD be either the tenant or the landlord, but:

-- from the viewpoint of the tenant it's "our factory"

-- from the viewpoint of the landlord it would have been called "our rental/commercial property"

as the ST says "... on its UK factory" this business is the tenant of this commercial property used as factory.

This "lease surrender premium" is presented as a cost for this business (i.e. the tenant), so it means that it's the tenant that is paying the landlord, to get the landlord to agree to an early termination (=surrender) of the lease.


Which incidentally corresponds to the reality of the UK property market!



Daryo
United Kingdom
Local time: 06:14
Specializes in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 302

Peer comments on this answer (and responses from the answerer)
disagree  Francois Boye: Your translation is unclear in French
1 hr
  -> The target audience would disagree with you ...

neutral  Germaine: Je crois qu'il y a eu deux choses: 1. L'abandon du bail 2015 (lease surrender) - d'où l'indemnité + 2. La signature du bail 2017 sans la clause onéreuse. D'où les surrender costs associated to the cancellation. // résiliation prématurée vs abandon
1 day 5 mins
  -> the "surrender" (and the costs of having to pay a "surrender premium") concerns only the first lease from 2015 - we agree on that, so I can't see what exactly is troubling you in this proposed translation?

disagree  GILOU: C'est d'une lourdeur en français = le coût (que représente) l'indemnité...relisez-vous...
3 days 1 hr
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Reference comments


15 hrs peer agreement (net): +2
Reference: I'm the tenant - get me out of here ...

Reference information:
Surrender - If the lease does not contain a break option, it can only be terminated early if the landlord is in agreement with this. This is known as a surrender. It can either be documented in writing, or it can be inferred from the conduct of the landlord and the tenant by "operation of law". If the landlord is happy to take the premises back then a surrender is a good way to bring the lease to an end.

However if the landlord does not want to take back possession of the premises (for example where he will not be able to re-let) then he cannot be compelled to do so. If the landlord refuses to take a surrender, the lease will have to remain in place. Alternatively, the landlord may seek payment of a surrender premium.

https://united-kingdom.taylorwessing.com/synapse/ti_greatesc...

--------------------------------------------------
Note added at 16 hrs (2018-08-23 14:50:21 GMT)
--------------------------------------------------

to state the [apparently not so] obvious:

.... the landlord may seek payment of a surrender premium.
=
the landlord is the one asking for money, expecting to get paid for agreeing to terminate the contract early.

In some alternative universe, but definitely NOT in the UK property market, you could imagine reading a sentence like this one:

the landlord may offer payment of a surrender premium.
=
in which case the landlord would be one offering to pay to see the tenant out.

Daryo
United Kingdom
Specializes in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 302

Peer comments on this reference comment (and responses from the reference poster)
neutral  Francois Boye: So why are you challenging my translation?Doesn't the landlord pay a prime? yes or no?
34 mins
  -> not the first time that you managed to snatch defeat from the jaws of victory - I mean misinterpret / turn on its head a perfectly good reference!
agree  B D Finch: Exactly!
1 hr
  -> Thanks!
agree  AllegroTrans
1 day 6 hrs
  -> Thanks!
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