This question was closed without grading. Reason: No acceptable answer
Jul 24, 2019 06:21
5 yrs ago
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French term
United Kingdom
Works in: French to English
consolidation
French to English
Bus/Financial
Finance (general)
Facility agreement
In a Facility Agreement under which money is being lent to the borrower to partially finance the purchase of an off-plan property, the term 'consolidation' is defined as follows: 'le fait pour les Parties de déclencher la Période d’amortissement du Prêt'. The expression 'Date de Consolidation' is defined as 'la plus rapprochée des dates suivantes :
o la Date de livraison de l’Immeuble,
o La Date Butoir'
I'm afraid that this is the only context I can give, as only the defined terms are used elsewhere in the text, with no further clarification.
Thanks in advance if you're able to help me with this.
o la Date de livraison de l’Immeuble,
o La Date Butoir'
I'm afraid that this is the only context I can give, as only the defined terms are used elsewhere in the text, with no further clarification.
Thanks in advance if you're able to help me with this.
Proposed translations
(English)
| 4 | completion (date) |
Adrian MM.
|
| 4 | Utilisation date |
Leighton Jacobs
|
Proposed translations
1 hr
Adrian MM.
Austria
Austria
Native in English
Specializes in field
Austria
Retd.T&I, Barrister & Austro-Advokat
Native in: English (Variants: Scottish, British) 
Works in: Spanish to English, English to Spanish, French to English, and 6 more.
Related KudoZ points
:
81
French term (edited):
(date de) consolidation
completion (date)
Having attended, pre-days of the UK e-Conveyancing Protocol, many conveyancing completions, in the UK and elsewhere, I'd make the following points:
1. the term seems to be used in the sense of 'entrée en jouissance', namely vesting of possession of the property (land).
2. contrary to a common (ProZ translators') misconception, there can be completion of a mortgage loan as well as of a *conveyance on sale* of land.
3. A 'completion' vs. a draw mortgage in the UK is slightly different, and refers to granting of the mortgage loan (by the mortgage lender) on completion and hand-over ('livraison') of the new building
4. Consolidation doesn't mean here healing, for instance of a franglais-posting affliction.
5. a literal translation would be ambiguous for 'consolidation' of credit card etc. loans or for amalgamation of land tracts as opposed to partition of land.
6. I see no need for me or anyone else to post long, otiose refs. in this case.
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Note added at 3 hrs (2019-07-24 09:58:18 GMT)
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OK, Sarah, consider though 1. la Date de livraison de l’Immeuble - that comes down to a conveyance 2. AmE: closure of the 'land-deeded' sale and signalling a consequent stop to further 'tirages' > facility drawdowns and 3. la Date Butoir that itself is a Cut-Off date.
1. the term seems to be used in the sense of 'entrée en jouissance', namely vesting of possession of the property (land).
2. contrary to a common (ProZ translators') misconception, there can be completion of a mortgage loan as well as of a *conveyance on sale* of land.
3. A 'completion' vs. a draw mortgage in the UK is slightly different, and refers to granting of the mortgage loan (by the mortgage lender) on completion and hand-over ('livraison') of the new building
4. Consolidation doesn't mean here healing, for instance of a franglais-posting affliction.
5. a literal translation would be ambiguous for 'consolidation' of credit card etc. loans or for amalgamation of land tracts as opposed to partition of land.
6. I see no need for me or anyone else to post long, otiose refs. in this case.
--------------------------------------------------
Note added at 3 hrs (2019-07-24 09:58:18 GMT)
--------------------------------------------------
OK, Sarah, consider though 1. la Date de livraison de l’Immeuble - that comes down to a conveyance 2. AmE: closure of the 'land-deeded' sale and signalling a consequent stop to further 'tirages' > facility drawdowns and 3. la Date Butoir that itself is a Cut-Off date.
Example sentence:
NOTES FOR COMPLETION OF THE MORTGAGE LENDING & ADMINISTRATION RETURN (‘MLAR’) Contents Introduction:
...if you’re building a new home, the kind of financing required is different? Basically, there are two options: a draw or completion mortgage.
Note from asker:
| Thanks for your suggestion Adrian, and I agree that 'completion' does work in a conveyancing context. But I'm not sure whether it does here, particularly on the basis that the 'Date de Consolidation' could be the 'Date Butoir', which is defined as 'la date limite de Tirage au-delà de laquelle aucun Tirage ne peut être effectué' ... |
9 hrs
Leighton Jacobs
United Kingdom
United Kingdom
Native in English
Specializes in field
United Kingdom
Your Marketing & Sustainability Expert
Native in: English (Variant: UK) 
Works in: German to English, French to English
Related KudoZ points
:
14
Utilisation date
From what I understand of the context and looking at the sentence, "le fait pour les Parties de déclencher la Période d’amortissement du Prêt", I initially thought that "loan commencement date" would be the most appropriate but I think ultimately "utilisation date" is a more preferred term so to speak.
"utilisation date" appears here: https://www.lawinsider.com/dictionary/utilisation-date specifically in reference to a Facility Agreement in the examples. Furthermore, you can find a facility agreement here: https://assets.publishing.service.gov.uk/government/uploads/... which specifies "utilisation date" on page 8 under definitions.
The "date de Butoir" which, as you mention, is defined as 'la date limite de Tirage au-delà de laquelle aucun Tirage ne peut être effectué' is referring to a deadline by which the "bill of exchange" must be drawn up otherwise no exchange will be carried out after this date. This deadline would then serve as the latest possible start date for the loan (and therefore amortisation) and act as the utilisation date.
Hope this helps!
"utilisation date" appears here: https://www.lawinsider.com/dictionary/utilisation-date specifically in reference to a Facility Agreement in the examples. Furthermore, you can find a facility agreement here: https://assets.publishing.service.gov.uk/government/uploads/... which specifies "utilisation date" on page 8 under definitions.
The "date de Butoir" which, as you mention, is defined as 'la date limite de Tirage au-delà de laquelle aucun Tirage ne peut être effectué' is referring to a deadline by which the "bill of exchange" must be drawn up otherwise no exchange will be carried out after this date. This deadline would then serve as the latest possible start date for the loan (and therefore amortisation) and act as the utilisation date.
Hope this helps!
Discussion
Sarah knows the full details, so it's up to her to decide.
I don't think I know precisely what "consolidates" / comes together at this point - all I can see is that the effect of "consolidation" is that repayments begin.