This question was closed without grading. Reason: No acceptable answer
Jul 30, 2015 07:54
9 yrs ago
7 viewers *
French term
United Kingdom
Quality Business & Financial Translation
Native in: English
Works in: French to English, Arabic to English
"effet novatoire du compte courant"
French to English
Bus/Financial
Finance (general)
clearing of cheques/bills of exchange
Explanation is clear: (on http://www.banque-info.com/lexique-bancaire/e/effet-novatoir...
Opération par laquelle toute créance portée sur un compte courant subit une sorte de novation (il y a remplacement d’une obligation par une autre), du fait qu’elle perd son individualité pour devenir un simple article de ce compte ; elle perd ainsi les sûretés et garanties dont elle était assortie (ex. : cas des effets escomptés revenus impayés et débités en compte).
But what is it in English?
Opération par laquelle toute créance portée sur un compte courant subit une sorte de novation (il y a remplacement d’une obligation par une autre), du fait qu’elle perd son individualité pour devenir un simple article de ce compte ; elle perd ainsi les sûretés et garanties dont elle était assortie (ex. : cas des effets escomptés revenus impayés et débités en compte).
But what is it in English?
Proposed translations
(English)
| 4 | novatory effect on the current account |
rkillings
|
| 3 | banker's setoff/ current account setoff |
Maeva Cifuentes
|
| 3 | transfer by novation |
Nikki Scott-Despaigne
|
Proposed translations
3 hrs
Maeva Cifuentes
Spain
Spain
Native in English
Spain
MITI. FR, ES>EN Business and Legal
Native in: English
Works in: French to English, Spanish to English
banker's setoff/ current account setoff
Set-off rights may arise between two parties who owe each other monetary debts.
A right of set-off allows one of the parties (the debtor) to apply the amount owed to it by the other party (the creditor) against the amount the debtor owes to the creditor, enabling the debtor to reduce or extinguish its liability.
Unless otherwise agreed by the parties, banks have a general right to combine two or more accounts held by the same entity. This means that they can set-off a debit balance on one account against a credit balance on another.
The types of account which can be combined are limited. For example, there is no right to combine a loan account with a current account because they are of different characters. For this reason, some commentators have begun to refer to 'current account set-off' instead of 'bankers' set-off'.
A right of set-off allows one of the parties (the debtor) to apply the amount owed to it by the other party (the creditor) against the amount the debtor owes to the creditor, enabling the debtor to reduce or extinguish its liability.
Unless otherwise agreed by the parties, banks have a general right to combine two or more accounts held by the same entity. This means that they can set-off a debit balance on one account against a credit balance on another.
The types of account which can be combined are limited. For example, there is no right to combine a loan account with a current account because they are of different characters. For this reason, some commentators have begun to refer to 'current account set-off' instead of 'bankers' set-off'.
4 hrs
Nikki Scott-Despaigne
Native in English
Psychologist, Court-certified legal
Native in: English 
Works in: French to English
Related KudoZ points
:
162
French term (edited):
effet novatoire du compte courant
transfer by novation
"It shall be agreed expressly, that transfer by novation of the current account shall only come into play once the usual verifications have been carried out."
May this work will help : Understanding International Bank RiskPublished Online: 15 APR 2013.
http://onlinelibrary.wiley.com/doi/10.1002/9781118673294.glo...
Novation.
The transfer of rights and obligations from one entity to another, for example following the substitution of a new debtor for an old debtor or of one bank for another under a loan facility by way of substitution (transfer) certificate.
Novation agreement.
A document which formally concludes the sale and transfer (by novation) of all rights and obligations from an existing lender to a new lender.
Seems to match quite well the definition you have whereby there is "remplacement d'une obligation par une autre".
May this work will help : Understanding International Bank RiskPublished Online: 15 APR 2013.
http://onlinelibrary.wiley.com/doi/10.1002/9781118673294.glo...
Novation.
The transfer of rights and obligations from one entity to another, for example following the substitution of a new debtor for an old debtor or of one bank for another under a loan facility by way of substitution (transfer) certificate.
Novation agreement.
A document which formally concludes the sale and transfer (by novation) of all rights and obligations from an existing lender to a new lender.
Seems to match quite well the definition you have whereby there is "remplacement d'une obligation par une autre".
19 hrs
novatory effect on the current account
Why avoid the obvious? The term "novatory effect" certainly appears in legal treatises on Roman law (have a look at the Google Books titles turned up by a search on the phrase). It is evidently alive in French law also. So what if the adjectival term is rarely or never heard or seen in the contemporary Anglosphere. Novation (the noun and the concept) *has* been incorporated into common law.
And the source text here is about a civil-law jurisdiction, after all.
And the source text here is about a civil-law jurisdiction, after all.
Discussion
http://www.proz.com/kudoz/french_to_english/finance_general/...
http://www.juritravail.com/lexique/Comptecourant.html
http://eudict.com/?lang=freeng&word=effet novatoire
http://www.investopedia.com/terms/n/novation.asp
http://financial-dictionary.thefreedictionary.com/novation
https://en.wikipedia.org/wiki/Novation
http://www.investment-and-finance.net/derivatives/n/novation...
Might also help :
http://dictionary.reverso.net/french-synonyms/novatoire