Oct 21, 2021 21:22
2 yrs ago
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Dutch term
Lucy Makepeace (X)
moratoire intresten aan wettelijke intrestvoet, gerechtelijke intresten aan wett
Dutch to English
Law/Patents
Law (general)
I've included it all as it's important to get it the whole thing right together. There are a couple of previous discussions on bits in isolation. It is from a hearing in BELGIUM. I'm wondering if we have a term for pre-summons interest and post-summons interest in English.
ST:
te veroordelen tot betaling aan verzoekster van een som, gelijk aan XXX, te vermeerderen met de moratoire intresten aan wettelijke intrestvoet vanaf X tot op datum van dagvaarding, waarna te vermeerderen met de gerechtelijke intresten aan wettelijke intrestvoet tot aan de dag der algehele betaling
NB: X is date before any other date
Suggested TT:
ordered to pay the claimant XXX, plus the statutory interest on late payments from XX until the date of the summons, then judicial interest at the statutory rate until the payment has been settled in full
Research (I might even leave a translator note):
Translator note: moratoire interesten: the interest due for delay in the performance of an obligation involving a sum of money. This interest is equal to the statutory interest. The legal interest has been 7 % since 01.09.1996. According to this same source, from the moment a procedure is initiated, "moratoire intresten" and wettelijk intrest" (the interest that runs by operation of law or the amount of the interest that is determined by law) are replaced by judicial interests (the interest awarded by the court from the initiation of the lawsuit until the time of payment), which also amount to 7% and are in principle awarded from the summons until the date of full payment. Sources: http://www.omnius.be/nl/42/publicaties/26/ and https://advocaten-leuven.be/welke-interest/
ST:
te veroordelen tot betaling aan verzoekster van een som, gelijk aan XXX, te vermeerderen met de moratoire intresten aan wettelijke intrestvoet vanaf X tot op datum van dagvaarding, waarna te vermeerderen met de gerechtelijke intresten aan wettelijke intrestvoet tot aan de dag der algehele betaling
NB: X is date before any other date
Suggested TT:
ordered to pay the claimant XXX, plus the statutory interest on late payments from XX until the date of the summons, then judicial interest at the statutory rate until the payment has been settled in full
Research (I might even leave a translator note):
Translator note: moratoire interesten: the interest due for delay in the performance of an obligation involving a sum of money. This interest is equal to the statutory interest. The legal interest has been 7 % since 01.09.1996. According to this same source, from the moment a procedure is initiated, "moratoire intresten" and wettelijk intrest" (the interest that runs by operation of law or the amount of the interest that is determined by law) are replaced by judicial interests (the interest awarded by the court from the initiation of the lawsuit until the time of payment), which also amount to 7% and are in principle awarded from the summons until the date of full payment. Sources: http://www.omnius.be/nl/42/publicaties/26/ and https://advocaten-leuven.be/welke-interest/
Proposed translations
+1
43 mins
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.
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32
Dutch term (edited):
moratoire interesten aan wettelijke interestvoet, gerechtelijke interesten aan wett
interest on arrears pursuant to statute, judicial interest at the legal interest rate
In the UK, a distinction is drawn between pre-judgment vs. post-judgment, rather than pre- and post-action interest cf. Letter before Action. Scots law spelling: judgement.
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Note added at 14 hrs (2021-10-22 11:35:15 GMT)
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Yes. I prefer your rendering in the last sentence, changing before and after the action to pre- and post-action interest. Also consider Phil G's alternative.
My reasoning for 'pursuant to statute' 1. to contrast with the second occurrence 2. it is or used to be an entrenched English legal-drafting convention for writs that I thought might be useful https://www.azleg.gov/ars/44/01201.htm 3. it might serve as a 'novel albeit archaic' alternative to label types of legal interest.
--------------------------------------------------
Note added at 14 hrs (2021-10-22 11:35:15 GMT)
--------------------------------------------------
Yes. I prefer your rendering in the last sentence, changing before and after the action to pre- and post-action interest. Also consider Phil G's alternative.
My reasoning for 'pursuant to statute' 1. to contrast with the second occurrence 2. it is or used to be an entrenched English legal-drafting convention for writs that I thought might be useful https://www.azleg.gov/ars/44/01201.htm 3. it might serve as a 'novel albeit archaic' alternative to label types of legal interest.
Example sentence:
Prejudgment interest is not permitted for future economic damages, future ... the time of service of the summons and complaint.
Note from asker:
| So here you would translate "aan wettelijke interestvoet" differently in the two parts - "moratoire intresten aan wettelijke intrestvoet" as "interest on arrears pursuant to statute" and "gerechtelijke intresten aan wettelijke intrestvoet" as "judicial interest at the legal interest rate". My issue was exactly that. The Belgian text is talking about interest before and after the action, whereas in English texts we would talk about interest before and after the judgment. I'm therefore wondering if I'd be best putting something like "interest on late payments before the action at the statutory rate" for the first one and "interest on late payments after the action at the statutory rate" for the second. |
| Thank you so much to you both! |
132 days
Bryan Crumpler
United States
United States
Native in English
Specializes in field
United States
Prepared, precise, & professional!
Native in: English (Variants: Scottish, US South, British, UK, Irish, South African, US, Australian, Indian, Canadian, New Zealand)
Works in: Dutch to English, Flemish to English, Afrikaans to English, and 3 more.
Related KudoZ points
:
24
default interest at the statutory rate, judicial interest at the statutory rate
FWIW, I would opt for "default interest" because it's interest that is to be paid upon defaulting on the "performance" of an obligation, no?
Performance need not always be in the form of making a payment; nonetheless a delayed delivery (i.e. a failure to perform), e.g., could impact cost of other things down the pipeline, or supply chain, in which case a higher interest rate could apply.
If not already written into a contract at a different/higher percentage, the default interest rate could be set at the statutory rate (wettelijke intrestvoet) so as not to appear as a "penalty" or otherwise unreasonable. I know Belgian law frowns upon "penalties".
LA law (in English) uses both "legal" and "judicial" as terms for "gerechtelijke intresten" , but codifies it as "judicial interest" here: https://law.justia.com/codes/louisiana/2006/123/285199.html
WRT the references:
Conventional interest is pre-agreed between parties (like a credit card agreement w/o any default on payment necessarily)
Default interest is a rate charged upon a failure to perform and necessarily impacts payment: https://www.tcm.be/en/default-interest/
Compensatory interest is a rate to compensate the period of time between the sustaining of a loss and its reparation. cf. https://www.tcm.be/en/compensatory-interest/
Statutory interest is a rate set by law, usu. kicks in when no other agreement is in place
Judicial/Legal interest is a rate set by the courts in matters of dispute
All that to say that statutory interest and default interest are not the same, but they COULD BE set at the same rate.
Performance need not always be in the form of making a payment; nonetheless a delayed delivery (i.e. a failure to perform), e.g., could impact cost of other things down the pipeline, or supply chain, in which case a higher interest rate could apply.
If not already written into a contract at a different/higher percentage, the default interest rate could be set at the statutory rate (wettelijke intrestvoet) so as not to appear as a "penalty" or otherwise unreasonable. I know Belgian law frowns upon "penalties".
LA law (in English) uses both "legal" and "judicial" as terms for "gerechtelijke intresten" , but codifies it as "judicial interest" here: https://law.justia.com/codes/louisiana/2006/123/285199.html
WRT the references:
Conventional interest is pre-agreed between parties (like a credit card agreement w/o any default on payment necessarily)
Default interest is a rate charged upon a failure to perform and necessarily impacts payment: https://www.tcm.be/en/default-interest/
Compensatory interest is a rate to compensate the period of time between the sustaining of a loss and its reparation. cf. https://www.tcm.be/en/compensatory-interest/
Statutory interest is a rate set by law, usu. kicks in when no other agreement is in place
Judicial/Legal interest is a rate set by the courts in matters of dispute
All that to say that statutory interest and default interest are not the same, but they COULD BE set at the same rate.
Reference:
https://advocaten-leuven.be/welke-interest/
https://www.gibsonsheat.com/Articles/Business+Information/DefaultInterest.html
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