Aug 9, 2014 18:32
9 yrs ago
18 viewers *
German term
gesamtschuldnerische Haftung
German to English
Bus/Financial
Finance (general)
Branchenüblich bestehen darüber hinaus bei Arbeitsgemeinschaften, an denen Gesellschaften des Konzerns beteiligt sind, eine gesamtschuldnerische Haftung mit den anderen Partnern sowie Bankavale überwiegend für Angebots-, Vertragserfüllungs- und Gewährleistungsverpflichtungen und Vorauszahlungen.
Additionally, as is standard in the industry, project consortiums in which companies of the group hold a stake are jointly and severally liable with the other partners and there are bank guarantees, mainly for tender, contractual fulfilment and guarantee obligations and advance payments.
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I want to be clear about this sentence before moving on. Does it mean that the companies holding a stake in a project consortium are jointly and severally liable with the other members of their group or does it mean that the project consortiums are jointly and severally liable with their own partners?
Additionally, as is standard in the industry, project consortiums in which companies of the group hold a stake are jointly and severally liable with the other partners and there are bank guarantees, mainly for tender, contractual fulfilment and guarantee obligations and advance payments.
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I want to be clear about this sentence before moving on. Does it mean that the companies holding a stake in a project consortium are jointly and severally liable with the other members of their group or does it mean that the project consortiums are jointly and severally liable with their own partners?
Proposed translations
(English)
| 4 +2 | jointly and severally liable |
David Hollywood
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| 4 | jointly and severally liable |
Maija Cirule
|
Proposed translations
+2
10 hrs
David Hollywood
Native in English
Works in field
worked for int. orgs (IMF, OAS, IDB)
Native in: English
Works in: Spanish to English, German to English
Related KudoZ points
:
353
Selected
jointly and severally liable
in your context it means that the joint ventures (or project consortiums as you prefer to call them) of which the group member companies are a part are jointly and severably liable etc.
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Note added at 10 hrs (2014-08-10 05:14:20 GMT)
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so the ultimate joint and several liability is with the joint venture/project consortium in this case
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Note added at 10 hrs (2014-08-10 05:14:20 GMT)
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so the ultimate joint and several liability is with the joint venture/project consortium in this case
4 KudoZ points awarded for this answer.
Comment: "Thanks a lot for your help!"
11 hrs
Maija Cirule
Latvia
Latvia
Latvia
Quality translations
Native in: Latvian
Works in: German to English, Latvian to English, German to Latvian, and 4 more.
jointly and severally liable
On the basis of logic I would say "jointly and severally liable with the other members of their group"
Peer comment(s):
| neutral |
writeaway
: exact same answer already posted. Kudoz etiquette used to dictate placing a peer comment under the answer, not just re-posting the exact same answer. imo it's on the basis of the other answer + Asker's own translation, not logic
7 hrs
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