This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
flachgedeckter Saalbau
Ein Werksmitarbeiter in einem Betrieb

Glossary entry

German term or phrase:

Gewinnabführungs-und Verlustübernahmevertrag

English translation:

profit and loss transfer agreement

Added to glossary by YorickJenkins
Feb 4, 2010 11:44
14 yrs ago
German term

Verlustübernahmevertrag

German to English Bus/Financial Law: Contract(s) Company Accounting
I am sure there is a special English term for this but I cannot find it. The context is a questionnaire which a factoring company uses to establish the soundness of companies requesting their services. The question in German which the factoring company asks the company which has applied to the factor is:

"Besteht ein Gewinnabführungs-und **Verlustübernahmebvertrag**?"

Gewinnabführungsvertrag is profit transfer agreement-but what about Verlusübernahmevertrag, the expression in English which means that the mother company assumes responsibility for losses incurred by subsidiaries-"assumption of losses agreement"? "loss transfer agreement"?
Help as always, much appreciated

YorickJenkins
Proposed translations (English)
5 +5 loss transfer agreement

Discussion

Ted Wozniak Feb 4, 2010:
Agree with Steffen It's a profit and loss transfer agreement. Standing alone, you can also call the loss portion a "loss absorption" as the parent company "absorbs" the subsidiary's loss.
Steffen Walter Feb 4, 2010:
Single concept - no term separation Your context mentions a "Gewinnabführungs- und Verlustübernahmevertrag", which is a single concept, and thus needs to be translated as a whole ("profit and loss transfer agreement") instead of separating the "Verlustübernahmevertrag" from the preceding part.

Proposed translations

+5
21 mins
Selected

loss transfer agreement

is what PwC uses, although it does usually appear together as profit and loss transfer agreement.
Peer comment(s):
agree Rolf Keiser : just what I was about to enter
23 mins
agree Steffen Walter : The complete term/concept "Gewinnabführungs- und Verlustübernahmevertrag" also appears in Yorick's text and needs to be translated as "profit and loss transfer agreement".
47 mins
agree Monika Elisabeth Sieger : with Steffen!
50 mins
agree Derek Gill Franßen
54 mins
agree Inge Meinzer : also with Steffen
2 hrs
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Great stuff everybody-many thanks!"
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search