Glossary entry

French term or phrase:

appel de provisions

English translation:

call for reserve funds

Added to glossary by Jana Cole
Nov 25, 2014 17:45
9 yrs ago
23 viewers *
French term

appel de provisions

French to English Bus/Financial Real Estate Property Management
This is the title of a document issued by a property management company in France. It's obviously an accounting of the various costs of managing a property over a 3-month period, such has heating costs and general expenses.

I can't find a translation for "Appel de provisions." Anyone know of this term?
References
fwiw

Discussion

Helene Tammik Nov 25, 2014:
In many cases (in the UK) the managing agents (Syndic, in French) prepare an annual Service Charge Estimate in advance and then demand contributions to cover it. If there is any variance at the end of the year, then (as in France) they would either carry forward the surplus amounts to offset future demands, or, if necessary, levy an additional charge.

Having said that, perhaps in some properties they do simply levy a flat rate - but the managing agents must have to adjust it regularly to keep up with changes in outgoings.
Jane Phillips Nov 25, 2014:
@ Helene Is there not a difference in that in the UK (I think - for the US I have no idea) the service charge is a flat rate and that is what you pay whereas in France it is a provision to pay the anticipated costs which may at the end of the day be adjusted up or down depending on what the final costs were?
Helene Tammik Nov 25, 2014:
The regular charges that owners have to pay are usually called Service Charges and when this money is requested (quarterly, half-yearly, or whatever) this "Appel" document is called a "Demand" in UK English
Jane Phillips Nov 25, 2014:
My understanding is that want some money up front from the owners to cover costs. Future invoices will then be set off against this sum.

Proposed translations

8 mins
Selected

Service charge demand

If it is a contribution to regular ongoing costs.

If it's to save up for future outlay, it's 'Sinking Fund Contribution'

(this is UK English)
Peer comment(s):

agree Jane Phillips : Tks for the extra info ;-)
19 mins
Thanks Jane!
disagree Daryo : you forgot the bit about "provisions" - it's only an estimated advance payment, not the final amount as you present it.
1 hr
Yes, I mentioned that in the discussion thread - obviously different freeholders/residents' companies/managing agents have different ways of handling the variance between estimated and actual outgoings over the year.
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3 KudoZ points awarded for this answer.
9 hrs

Call for advance to cover service charges

This translation is consistent with the explanations provided by the British PROZ members.

In the US, the service charges are called condominium fees. They are paid by owners (the members of the condominium) only, not by renters.
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Reference comments

57 mins
Reference:

fwiw

Peer comments on this reference comment:

agree mchd
2 hrs
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