Glossary entry

English term or phrase:

general floating charge

Serbian translation:

opšta zaloga na celokupnoj pokretnoj imovini

Added to glossary by Bogdan Petrovic
Jun 20, 2014 15:16
9 yrs ago
24 viewers *
English term

general floating charge

English to Serbian Bus/Financial Finance (general) Liens
Assets under lien: First degree general floating charge on all assets, moneys, property and rights of any kind whatoever without exception that the pledgor has now and will always have at any time in the future by any way and mean. First degree fixed charge and pledge on the share capital of the pledgor which is not yet called or called but not yet paid up on the company’s knowhow as per today and in the future.
Special terms: No charge or transfer are allowed without the consent of the lien owner.

Discussion

Daryo Jun 21, 2014:
There was already a question like this few months ago, in the EN to SR pair, but I can't find it right now - the question was formulated slightly differently (or even wrongly formulated because the Asker didn't recognise it as one term) but is was also about a "floating charge". I don't fancy doing all the research again.

"floating charge" ia a kind of "zaloga" (definitely NOT a charge in the sense of "troškovi"), so if you want a translation that is usable in a contract, try to find Serbian laws were various kind of "zaloga" are mentioned (zakon o imovinskim odnosima? zakon o zalogama? etc.

In the short version a "floating charge" is a "charge" / ZALOGA over what belongs to the company taking the loans, but doesn't stay the same like for example products in stock – some are sold and go out, other come in from production, but at any time there's is stock of finished products ready for sale. So a company could take a loan and give as guaranty for repayment a "floating charge" over the stock of finished products – whichever finished products are in stock at the time of calling this guaranty would be seized. Or a "floating charge" over the cash from sales.

Proposed translations

2 days 19 hrs
Selected

opšta zaloga na celokupnoj pokretnoj imovini

general floating charge = a floating charge on ALL non-fixed assets (the whole working capital) of the company

floating charge = zaloga na pokretnoj imovini


"...
II. PREDMET ZALOŽNOG PRAVA

Pokretne stvari
Član 9.

Predmet založnog prava može biti individualno određena stvar kojom zalogodavac može slobodno raspolagati. Založiti se mogu i pokretne stvari određene po vrsti, ako je ugovorom o zalozi određena količina ili broj i način na koji se mogu razlikovati od drugih stvari iste vrste. Predmet založnog prava može biti i zbir pokretnih stvari, kao što je roba u određenom skladištu ili prodavnici, inventar koji služi za obavljanje privredne delatnosti i drugo, u skladu sa ugovorom o zalozi.
...
[http://www.konsalting.rs/dload/apr/zakoni/Zakon o zaloznom p...]

strictly speaking "zaloga na individualno određenu stvar" wouldn't be a floating charge, but the rest of this Article 9 gives a good definition of what is a "floating charge".

Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Hvala!"
58 mins

fluktuirajući interes, lebdeća zaloga

Definicije iz Rečnika bankarstva i finansija Biljane Simurdić
Peer comment(s):

neutral Daryo : "fluktuirajući interes" quite ambiguous, most likely to be understood wrongly // "lebdeća zaloga" I would be weary of a translation with ONE ghit only, although it's a possible one. any REAL LIFE example of use?
17 hrs
Something went wrong...
18 hrs

opšte fluktuirajuće opterećenje

floating charge (US usually referred to as a floating lien and not often used, though possible, under the Uniform Commercial Code) – form of security interest over the debtor’s assets which may change on a daily basis, such as stock; a grant of security for a loan on the company’s assets in general, and not on any specific asset – fluktuirajuće opterećenje, promenljiva zaloga; vid obezbeđenja interesa u dužnikovim sredstvima koja mogu dnevno da variraju (na primer deonice); obezbeđenje zajma opštom aktivom preduzeća, a ne nekim specifikovanim sredstvima

http://www.komunikacijaikultura.org/E-books/ESMRSR recnik.pd... - ovde ima dosta finansijskih termina ako vam još nešto zatreba, slučajno sam našla
Peer comment(s):

neutral Daryo : misleading translation - the main point of a "floating charge" is not that the value of the collateral keeps changing; the "fluctuation" is not the defining characteristic, but a only a consequence of the nature of a "floating charge"
1 day 13 hrs
Something went wrong...

Reference comments

14 mins
Reference:

floating charge

Peer comments on this reference comment:

disagree Daryo : you're quoting a totally wrong answer, 'm afraid
17 hrs
Something went wrong...
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search