Apr 16, 2019 18:22
5 yrs ago
Spanish term
Spain
Fast, accurate business & law specialist
Native in: English 
Works in: Spanish to English
a la parte destinada a la cancelación
Spanish to English
Bus/Financial
Insurance
An insurance policy that covers a company's debts to the bank if a key person (owner, CEO etc) therein dies. (Spain)
"En caso de pago de la prestación, a la parte destinada a la cancelación de las deudas con XXXXXXXX, no se aplica retención."
So no sum will be witheld, but from whom/what?
This is as near as I get...
"In case of payment of the benefit, no sum will be withheld from the amount (?) used in settlement of the sums owed to XXXXXXXX."
Not at all convinced though.
"En caso de pago de la prestación, a la parte destinada a la cancelación de las deudas con XXXXXXXX, no se aplica retención."
So no sum will be witheld, but from whom/what?
This is as near as I get...
"In case of payment of the benefit, no sum will be withheld from the amount (?) used in settlement of the sums owed to XXXXXXXX."
Not at all convinced though.
Proposed translations
(English)
| 3 | to the party that will cancel the debt |
Cecilia Q Clare
|
| 4 | (no - CT - withholding) applies to the part intended to pay off |
Adrian MM.
|
Proposed translations
35 mins
Cecilia Q Clare
United States
United States
Native in Spanish
United States
Spanish Linguist-medicine,law,education
Native in: Spanish
Works in: English to Spanish, Spanish to English, Spanish, and 1 more.
Related KudoZ points
:
4
Selected
to the party that will cancel the debt
They withheld from the party in charge of covering the debt.
Again, this is my interpretation.
Again, this is my interpretation.
4 KudoZ points awarded for this answer.
1 hr
Adrian MM.
Austria
Austria
Native in English
Specializes in field
Austria
Retd.T&I, Barrister & Austro-Advokat
Native in: English (Variants: British, Scottish) 
Works in: Spanish to English, English to Spanish, French to English, and 5 more.
Related KudoZ points
:
24
Spanish term (edited):
(no se aplica retención) a la parte destinada a la cancelación
(no - CT - withholding) applies to the part intended to pay off
,,, the debts (outstanding) with XXX.
CT = corporation tax and not called corporate tax in the UK vs. the US (La empresa tomadora sólo lo debe declarar en el Impuesto de Sociedades) cf- ACT = UK advance corporation tax payable of old.
It looks like the payer need not withhold tax from payment to the payee, but it's not a good idea to spell it out if not explicit in the wording.
CT = corporation tax and not called corporate tax in the UK vs. the US (La empresa tomadora sólo lo debe declarar en el Impuesto de Sociedades) cf- ACT = UK advance corporation tax payable of old.
It looks like the payer need not withhold tax from payment to the payee, but it's not a good idea to spell it out if not explicit in the wording.
Reference:
Discussion