Nov 26, 2005 15:47
18 yrs ago
7 viewers *
French term
Cecilia Reilly
frais intercalaires
French to English
Bus/Financial
Finance (general)
This looks as if is a charge or interest on money borrowed while awaiting the funds in a property loan to be released. I wonder if it isn't interest on a bridging loan, but I need the exact term in English.
Proposed translations
(English)
| 4 | interim fees |
DocteurPC
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| 3 +1 | Note |
JCEC
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| 2 | interest during construction (IDC) |
Bourth (X)
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Change log
Nov 27, 2005 19:33: JCEC changed "Level" from "Non-PRO" to "PRO"
Proposed translations
14 mins
Selected
interim fees
Comptabilité Générale
File Format: PDF/Adobe Acrobat - View as HTML
5) Intérêts/Frais intercalaire. (Entre le moment où on contracte un bien et le
moment où il devient opérationnel). Def : Charges financières supportées par ...
www.cerkinfo.be/~bac/candi2/Comptabilite.pdf
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Note added at 15 mins (2005-11-26 16:02:25 GMT)
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the PDF reference above is only for a good def.
File Format: PDF/Adobe Acrobat - View as HTML
5) Intérêts/Frais intercalaire. (Entre le moment où on contracte un bien et le
moment où il devient opérationnel). Def : Charges financières supportées par ...
www.cerkinfo.be/~bac/candi2/Comptabilite.pdf
--------------------------------------------------
Note added at 15 mins (2005-11-26 16:02:25 GMT)
--------------------------------------------------
the PDF reference above is only for a good def.
Reference:
Peer comment(s):
| neutral |
df49f (X)
: though I don't know the English term, interim fees does not describe accurately "frais intercalaires" - see Bourth's explanation (& KudoZ gloss is hardly a reliable reference...)
3 hrs
|
4 KudoZ points awarded for this answer.
Comment: "thank you very much, that's just what I need."
39 mins
interest during construction (IDC)
It's hard to tell from your question what the transaction actually is (who is releasing the funds in a property loan, for what purpose, etc?), but I'll venture one possibility ...
"Interest during construction" or IDC, usually referred to as "intérêts intercalaire" in my experience, is the money paid on a loan before the loan payment is actually made. For example, you want to build a house, but before committing to a construction contract, you want to be sure you can get a loan at the right conditions. If your bank agrees to lend you money at a future date, when the house has been built and you pay the builder in full, they will want "intérêts/frais intercalaires" to compensate their commitment to make that money available and to compensate possible interest rate fluctuations in the intervening period. I think in some cases these things can be semi-negotiable, i.e. you pay the interest during construction at a certain rate on a fixed, unalterable final loan, but if you retain the ability to renegotiate the rate of the final loan, should interest rates go up in the mean time, you pay a slightly higher IDC rate, etc. etc.
"Interest during construction" or IDC, usually referred to as "intérêts intercalaire" in my experience, is the money paid on a loan before the loan payment is actually made. For example, you want to build a house, but before committing to a construction contract, you want to be sure you can get a loan at the right conditions. If your bank agrees to lend you money at a future date, when the house has been built and you pay the builder in full, they will want "intérêts/frais intercalaires" to compensate their commitment to make that money available and to compensate possible interest rate fluctuations in the intervening period. I think in some cases these things can be semi-negotiable, i.e. you pay the interest during construction at a certain rate on a fixed, unalterable final loan, but if you retain the ability to renegotiate the rate of the final loan, should interest rates go up in the mean time, you pay a slightly higher IDC rate, etc. etc.
+1
7 hrs
Note
Le concept qui me semble le plus proche est ce qu'on appelle "loan commitment fee" au Canada et aux USA. Il s'agit de frais proportionnels au montant du prêt accordé ou dans certains cas à la durée qui précède le déboursement.
Before construction begins, P will pay the following fees:
A permanent *** loan commitment fee *** to the lender of the permanent financing for the lender's promise to provide funds upon construction completion and approval.
http://www.taxlinks.com/rulings/1981/revrul81-161.htm
*** Loan Commitment Fee ***
A commitment fee of .125% (one eighth of a point) will be charged. For example, a $375 commitment fee will be charged on a $300,000 loan. Thrivent will issue a letter to the congregation, committing to the loan amount. Upon receipt, an official of the congregation will sign the commitment letter and return it to Thrivent along with the required commitment fee.
http://www.thrivent.com/aboutus/churchloans/process.html
Before construction begins, P will pay the following fees:
A permanent *** loan commitment fee *** to the lender of the permanent financing for the lender's promise to provide funds upon construction completion and approval.
http://www.taxlinks.com/rulings/1981/revrul81-161.htm
*** Loan Commitment Fee ***
A commitment fee of .125% (one eighth of a point) will be charged. For example, a $375 commitment fee will be charged on a $300,000 loan. Thrivent will issue a letter to the congregation, committing to the loan amount. Upon receipt, an official of the congregation will sign the commitment letter and return it to Thrivent along with the required commitment fee.
http://www.thrivent.com/aboutus/churchloans/process.html
Peer comment(s):
| agree |
Bourth (X)
: Possibly more self-explanatory than IDC, but it appears to be a flat fee, not a monthly interest charge.
30 mins
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Discussion