Glossary entry (derived from question below)
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
"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 |
Henry Schroeder
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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
|
4 KudoZ points awarded for this answer.
Comment: "Great stuff everybody-many thanks!"
Discussion