Glossary entry

Italian term or phrase:

il proprio credito

English translation:

the amount payable and due

Added to glossary by maryrose
Nov 8, 2010 06:23
13 yrs ago
4 viewers *
Italian term

il proprio credito

Italian to English Law/Patents Law (general) commercial law
The dreaded credito in one of its multiple manifestations. This is a rental agreement between an equipment hire company and a subcontractor.

"Nelle ipotesi previste dall’art. 7.1 che precede, il Mediatore perderà ogni diritto a percepire qualsivoglia corrispettivo e sarà tenuto, oltre che a restituire a sua cura e spese il materiale informativo di cui all’art. 4 che precede, a pagare a X una penale pari ai corrispettivi maturati sino a tale momento. X potrà compensare **il proprio credito** (così come ogni altro derivante dal presente contratto), anche in deroga all’art. 1243 c.c., con i crediti del Mediatore per i corrispettivi che (nei limiti di cui all’art. 5) dovranno essergli pagati per i contratti di noleggio conclusi anteriormente alla risoluzione del presente accordo. E’ fatto salvo il risarcimento del maggior danno sofferto da X."

It's clear that if the principal loses money through having to rescind the agreement it can recoup from the other party, but I just can't think of what to put for 'credito' here. Any suggestions welcome.
Proposed translations (English)
4 +1 the amount payable and due

Proposed translations

+1
47 mins
Selected

the amount payable and due

I am trying to simplify here ... It means that X can offset the amount payable and due to it with the amounts due to the Intermediary (Broker or whatever other word you have used).

I also thought of receivable - a bit to technical - but amount sounds better. I agree the term credito is always a difficult one ...

I only use credit for retail banking and tax stuff.

Alison
Note from asker:
Thanks, Alison. Receivable was my first thought too but it didn't seem right here, though I'm using it for the broker's 'crediti' in the same sentence.
Peer comment(s):

agree Thomas Roberts : or even simpler, "the amount due to it"
53 mins
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4 KudoZ points awarded for this answer. Comment: "Thanks again, Alison. "
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