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Glossary entry

German term or phrase:

Ratenausstand

English translation:

skip(ping) a payment

Added to glossary by Claire Cox
Jul 31, 2013 22:40
10 yrs ago
German term

Ratenausstand

German to English Bus/Financial Finance (general) Lease agreements
This is a brochure on machine tools and includes a section on flexible finance for these tools, i.e. lease agreements. Finance isn't really my field and I am somewhat flummoxed by the term "Ratenausstand", e.g.

Beispielrechnung*
• Nettokaufpreis der Maschine 1.480.000 € zzgl. Umsatzsteuer**
• Keine Kaufverpflichtung, keine Anzahlung
• Zahlungsfreie Anlaufzeit bis 3 Monate möglich
• Ratenausstand 1x pro Jahr möglich

I can't work out exactly what they are allowed to do once a year: miss one payment perhaps? or something else entirely?

I'd be very grateful for your input.

Many thanks
Proposed translations (English)
4 +1 skip(ping) a payment
4 +1 payment deferral / deferred instalment
5 -1 outstanding instalment payments
4 payment holiday
3 (installment) payment default
References
skip a payment

Discussion

Claire Cox (asker) Aug 5, 2013:
Skip/defer I suppose there’s not a huge difference between being able to “miss/skip” one instalment a year and not having to start paying until after the first three months, as per one of the other bullet points. The title of the whole piece was “flexible financing”, so I suppose this is their idea of bending over backwards to be flexible, in the knowledge that they would get their full pound of flesh (and more!) on the day of reckoning.
Claire Cox (asker) Aug 1, 2013:
Lease agreement not loan agreement As this is for a lease agreement, rather than a loan agreement, I suppose it would be conceivable that you could miss one payment a year. It would thus mean that the amount outstanding at the end of the term, or if you choose to purchase the item, would be more
Lancashireman Aug 1, 2013:
skip or defer? The verb 'skip' apparently has different meanings on different sides of the Atlantic.

Permissible to defer one instalment per annum (thereby extending the period of the loan rather than simply defaulting)
David Moore (X) Aug 1, 2013:
Andrew should post his idea - IMO, it's right on target
David Hollywood Aug 1, 2013:
if I can skip a payment, I'll buy in :)
David Hollywood Aug 1, 2013:
doesn't mean "skip" and agree with Phil. They can be late with a payment but the payment has to be made nonetheless ...
Johanna Timm, PhD Aug 1, 2013:
I'm with Trudy on this see ref.
philgoddard Aug 1, 2013:
No, it doesn't mean skip a payment. It means be late with one payment without incurring penalties.
Trudy Peters Aug 1, 2013:
Yes, I think it simply means they are allowed to skip one payment a year.
philgoddard Aug 1, 2013:
I think that's exactly what it means, Andrew and David.
Lancashireman Jul 31, 2013:
One late payment permissible without incurring penalties? I can't see anyone accepting, let alone encouraging, a missing instalment.
David Hollywood Jul 31, 2013:
I think you're on the right track with missing payments/installments ... let's see what others have to say ....

Proposed translations

+1
3 days 19 hrs
Selected

skip(ping) a payment

see Johanna's reference
Note from asker:
Thanks to Trudy and Johanna!
Peer comment(s):
agree Johanna Timm, PhD
52 mins
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Many thanks to you both - and to everyone else for a very interesting discussion!"
40 mins

(installment) payment default

decided to go ahead and post this as I rIn finance, default occurs when a debtor has not met his or her legal obligations according to the debt contract, e.g. has not made a scheduled payment, or has violated a loan covenant (condition) of the debt contract. A default is the failure to pay back a loan.[1] Default may occur if the debtor is either unwilling or unable to pay his or her debt. This can occur with all debt obligations including bonds, mortgages, loans, and promissory notes.eally think this is what it refers to ...



--------------------------------------------------
Note added at 41 mins (2013-07-31 23:21:39 GMT)
--------------------------------------------------

oops must have overpasted some of my text out here :)

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Note added at 43 mins (2013-07-31 23:23:42 GMT)
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but I think you'll get the gist
Peer comment(s):
disagree David Moore (X) : See my post to Johanna
8 hrs
agree Lancashireman : Apparently this was correct after all.
4 days
Something went wrong...
-1
8 hrs

outstanding instalment payments

Ratenzahlungen, die noch nicht beglichen sind.
Peer comment(s):
disagree Cilian O'Tuama : Does it not just mean you're allowed to miss one payment per year without penalty?
1 day 17 hrs
Something went wrong...
2 days 13 hrs

payment holiday

I've encountered this term in the past with the UK Nationwide Building Society so it might work here
Note from asker:
Thanks Maureen - I'm pretty sure this is the right idea, but I don't think it works in this particular context.
Something went wrong...
+1
2 days 13 hrs

payment deferral / deferred instalment

See Page 21: https://www.alpha.gr/files/aboutalphabank/Transaction_Terms_...
“One monthly payment deferral per annum: Free of charge”

Payment ‘holiday’ may not be the right register. ‘Skip’ is not only the wrong register, IMO, but also ambiguous.

möglich = permissible / option of


--------------------------------------------------
Note added at 4 days (2013-08-04 23:25:01 GMT) Post-grading
--------------------------------------------------

With David: "if I can skip a payment, I'll buy in :)"
Note from asker:
I thought I had said that this was for a US audience but I know can't find any record of that, so please accept my apologies. It is for a UK-based multinational client, but my brief is to use US English. I have informed the client of my reservations about this term and suggested she seek clarification from her own in-house client.
Peer comment(s):
agree David Moore (X) : If I were Claire, I would have thought twice before accepting a US_usage - unless of course that was requested, but then she should have said...
1 day 18 hrs
Something went wrong...

Reference comments

4 hrs
Reference:

skip a payment

https://healthcarecu.org/uploads/skipapay_1_.pdf

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Note added at 5 hrs (2013-08-01 04:00:05 GMT)
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from the reference: "You may skip one payment annually for the term of the loan"
Note from asker:
Thanks Johanna - I think this is exactly what they mean too. I've referred it back to the client and while she hadn't come across this specific term either, she understood it to mean the same thing. If you (or Trudy - don't know who said it first!), would like to post it as an answer, I can close the question, but I don't feel any of the other answers are quite right in this particular context.
Peer comments on this reference comment:
neutral David Moore (X) : I'd say Andrew has the right angle on this, wouldn't you agree?
3 hrs
agree Trudy Peters : Exactly. Of course the pmt is deferred, since you have to make it up at the end.
8 hrs
you were first, Trudy - post it!
Something went wrong...
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