Geldzeichen und geldgleiche Forderungsrechte

English translation: banknotes, coins, and cash-equivalent debt securities

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

German term or phrase:	Geldzeichen und geldgleiche Forderungsrechte
English translation:	banknotes, coins, and cash-equivalent debt securities
Entered by:	Katy L Dean

15:03 Apr 10, 2019

German to English translations [PRO]
Bus/Financial - Finance (general) / Cash Pooling

German term or phrase: Geldzeichen und geldgleiche Forderungsrechte

It's for a general definition of the term 'Zahlungsmittel' from a cash pooling contract. It has been taken from the German dictionary definition of 'Zahlungsmittel'. The entire sentence is as follows:

"Als Zahlungsmittel im Sinne dieser Vereinbarung werden dabei Geldzeichen und geldgleiche Forderungsrechte verstanden, insbesondere Bargeld, monetäre Forderungen, die jederzeit durch Überweisung oder Scheck verfügbar sind sowie kurzfristige Termin- oder Sparguthaben, die vor Fälligkeit ohne Vorfälligkeitszinsen gekündigt werden können."

Assuming that 'cash' is the correct translation of 'Zahlungsmittel' in this context, what would be the most appropriate dictionary definition / translation of the above sentence? It must sound as natural and logical as possible in US English. My suggested translation at the moment is:

"For the purposes of this Agreement, the term ‘cash’ means currency and cash-equivalent monetary assets, in particular cash, monetary assets that are available at any time by bank transfer or check, as well as short-term time deposits or savings balances that can be terminated before maturity without any early payment charges."

My question therefore is, is "currency and cash-equivalent monetary assets" an appropriate translation or should I just go with the more general and usual 'cash and cash equivalents'?
Thanks for your help

Katy L Dean KudoZ activity Questions: 33 (none open) Answers: 1
Local time: 08:35

banknotes, coins, and cash-equivalent claims/rights

Explanation:
Geldzeichen = banknotes and coins
See, for example, http://www.wirtschaftslexikon.co/d/geldzeichen/geldzeichen.h...

I would be that specific because of the wording of your definition. You'd otherwise define "cash" as "cash and ..." ("Als Zahlungsmittel ... werden ... Geldzeichen und ... verstanden ...").

Selected response from:

Steffen Walter
Germany
Local time: 09:35

Grading comment

Thanks for this, I went for a slightly amended version in the end based on additional research.
4 KudoZ points were awarded for this answer

Summary of answers provided

banknotes, coins, and cash-equivalent claims/rights

Steffen Walter

2 +1

cash and cash equivalents

michael10705 (X)

money tokens and cash-receivable 'choses in action'

Adrian MM.

Answers

42 mins confidence:

banknotes, coins, and cash-equivalent claims/rights

Steffen Walter
Germany
Local time: 09:35
Specializes in field
Native speaker of:

German
PRO pts in category: 400

Grading comment

Thanks for this, I went for a slightly amended version in the end based on additional research.

Notes to answerer

Asker: Thanks for your helpful suggestion. To me, this seemed the clearest of the options.

2 hrs confidence:

peer agreement (net): +1

cash and cash equivalents

Explanation:
I think you're fine with just this, as you suggested as a possibility. Cash equivalents by definition are those things that are highly liquid and can be very easily converted to cash. Not sure if I'd use Cash for Zahlungsmittel in this case, though - why not just "Methods of payment / payment methods..."?

michael10705 (X)
Local time: 03:35
Works in field
Native speaker of: English
PRO pts in category: 25

2 hrs confidence:

money tokens and cash-receivable 'choses in action'

Explanation:
Geldzeichen - monetary tokens (Dietl/Lorenz) - quaere: shorthand for Geldwertzeichen, rather than generally meaning forms of cash.

Cash equivalents might not fully reflect the receivables component of Forderung: Zahn's DE/EN banking & stock trading glossary: Forderungsrecht > (Besitzrecht) proprietary *interest* (Clawback: Rückforderung) 'Accounts receivable do not meet the rigorous standards set by cash equivalent assets, especially when it comes to liquidity. Accounts receivable and cash equivalents have two different risk profiles.'

I guess that the 'right to equity' in the KudoZ web ref. means - from the explanation taken from another context - to equity loan capital rather than an equitable right or interest.

chose in action - forum discussion > @2: Wenn man aber den Wiki-Artikel weiterliest, dann kommt auch ("less accurately", also in einem weiteren Sinn) eine offene Geldforderung ("money that could be recovered" ...) und Anderes mehr.
A company share is an example of a chose in action that is not cash-equivalent.

> so monetäre Forderungen as monetary claims, rather than assets (im weiten Sinn: 'lendings' > Zahn).

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Note added at 8 hrs (2019-04-10 23:19:25 GMT)
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FWIW as a guide, rather than as an authority: Der Grosse Eichborn: Geldzeichen = token & Forderungsrecht = chose in action or legal claim.

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Note added at 5 days (2019-04-16 14:50:42 GMT) Post-grading
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I take your point or academic 'hint'. Any road, you may be surprised to learn that 'assignment of choses in action' - in writing only and with notice to the assignee - is commonly used in actual UK and Irish practice (in banks, insurance companies, Solicitors' firms and Bar Chambers including in Leeds) to denote transfers of tenancy deposits, copyright and company shares as well as of book debts!

Example sentence(s):

A chose in action is a comprehensive term used to describe a property right or the right to possession of something that can only be obtained or enforced through legal action.
Cash and cash equivalents are either cash or assets that are readily convertible into cash.

Reference: http://eng.proz.com/kudoz/german-to-english/law-general/5760...
Reference: http://www.linguee.de/deutsch-englisch/uebersetzung/forderun...

Adrian MM.
Austria
Specializes in field
Native speaker of:

English
PRO pts in category: 44

Notes to answerer

Asker: Thank you for the helpful suggestions and additional explanations. Whilst I did not go for this option as I felt the other suggestion was slightly more accessible, I think that perhaps in a more academic text, these would be the appropriate options.

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