German term
Sicherheitseinbehalt nicht mehr vornehmen kann
I want to translate it as follows but it doesn't make sense to me that you pay the security deposit at the end - with your final invoice?
Insofar as, due to the settlement and payment status, the Client can no longer make the security deposit on the final invoice, he may do so on the partial invoices preceding the final invoice.
4 | ...retain a security deposit... | Chris Pr |
3 +2 | withhold from payment any retention money as security | Adrian MM. |
See also ... | Steffen Walter |
Apr 10, 2020 10:10: Steffen Walter changed "Field (write-in)" from "Investigation on meat smu" to "(none)"
Proposed translations
...retain a security deposit...
Also, the term 'vornehmen' here relates to the act of imposing the holdback, rather than authorising its payout.
"...berechtigt...einen Sicherheitseinbehalt von 5 % der Brutto-Auftragssumme vorzunehmen..."
"...entitled to retain a security deposit amounting to 5 % of the gross order value..."
Bilingual source:
https://www.lhaero.com/general-purchasing-terms
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Note added at 1 day 1 hr (2020-04-11 11:09:02 GMT)
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Another alternative for the source sentence given might also be, "...impose a security deposit...".
withhold from payment any retention money as security
Retention Payment is one.... withheld pending the completion of some specified condition. For example, a manufacturing business ... might withhold some percentage of payment due as retention money until the machines are successfully installed & operational.
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Note added at 3 hrs (2020-04-10 13:20:50 GMT)
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I hit the send key by mistake: ...darf er diesen bei den der Schlussrechnung vorangehenden Abschlagsrechnungen vornehmen > he shall be allowed to withhold this retention on such instalment invoices as are antecedent to the terminal invoice/ closing account.
Note that Abschlagzahlungen may be 'stage payments' made *as and when* work is completed and may be neither ex ante / in advance nor ex post facto / in arrear (not arrear*s*).
Retention Payment is one.... withheld pending the completion of some specified condition. For example, a manufacturing business ... might withhold some percentage of payment due as retention money until the machines are successfully installed & operation
http://eng.proz.com/kudoz/german-to-english/accounting/205792-sicherheitseinbehalt-a-bnk-netto.html
http://iate.europa.eu/search/standard/result/1586523826099/1
agree |
Björn Vrooman
: Definitely called retention in the UK and ZA: https://www.designingbuildings.co.uk/wiki/Interim_certificat... + https://mdalaw.co.za/retention-and-the-current-state-of-the-... (called retainage in the US)
3 hrs
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Thanks. Björn. it's a convoluted scenario I remember from suspicion-fraught 'Catholic' Spanish construction contracts, whilst I, with stage payments made 'as and when', have (inadvertently I see!) incorporated Steffen W's idea of progress payments.
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agree |
Kartik Isaac
13 hrs
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Merci vielmals! Don't worry about the other answer....
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Reference comments
See also ...
agree |
Björn Vrooman
: Both of the links you posted back then no longer work. // Thanks! // For a real-life ENS example, please see https://www.proz.com/kudoz/english-to-german/law-contracts/5...
6 hrs
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https://web.archive.org/web/20080321143702/http://www.immobi... / The Wayback Machine doesn't work for the first dead link, though.
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