Glossary entry (derived from question below)
Dutch term or phrase:
stichting derdengelden
English translation:
+/- solicitor's client account / trust account
Added to glossary by
Julia Thompson
Jul 29, 2005 07:36
18 yrs ago
7 viewers *
Dutch term
stichting derdengelden
Dutch to English
Bus/Financial
Advertising / Public Relations
Can anyone help? This relates to the bank account from which a company pays its employees.
Thank you,
Julia.
Thank you,
Julia.
Proposed translations
(English)
4 +1 | +/- solicitor's client account / trust account | Chris Hopley |
3 +4 | Stichting Derdengelden | Willemina Hagenauw |
Proposed translations
+1
1 hr
Selected
+/- solicitor's client account / trust account
Most law practitioners maintain a separate bank account for handling client monies. E.g. when conveyancing property, the buyer will deposit the necessary funds in the solicitor's client account (or trust account). Once all the formalities have been completed, the monies held in that account will be passed on to the vendor. It's essentially a simple form of escrow.
The use of 'stichting derdengelden' indicates that the firm in question uses a 'stichting' to manage client monies. I'm not familiar with the use of a derdengelden account to pay salaries, but no doubt the wider context will make things clear...
-> "SOLICITORS' ACCOUNTS REGULATIONS, 1955.
" Client " means any person on whose account a solicitor holds or receives client's money ;
" Client account " means a current or deposit account in a bank in the name of the solicitor in the title of which the word " client " appears ;
" Client's money " means money which a solicitor receives as a solicitor or agent or in connection with his practice as a solicitor on account of some other person, but does not include, (a) money to which he is, or in the case of a firm, one or more of the partners are, alone entitled ; or (b) money held or received on account of a trust of which the solicitor is a solicitor-trustee;"
http://www.irishstatutebook.ie/ZZSI218Y1955.html
-> "Trust bank accounts
3.1 A trust bank account is defined in the Rules as "any trust account at a bank in New Zealand either in the name of [a] solicitor or in the name of a firm in which that solicitor is a partner or is held out to be a partner".
3.2 Trust bank accounts must be designated "trust account", and you must put the bank on notice that the money in the trust bank account is trust money."
http://www.lawyers.org.nz/memsoltaccgl.asp#3a
The use of 'stichting derdengelden' indicates that the firm in question uses a 'stichting' to manage client monies. I'm not familiar with the use of a derdengelden account to pay salaries, but no doubt the wider context will make things clear...
-> "SOLICITORS' ACCOUNTS REGULATIONS, 1955.
" Client " means any person on whose account a solicitor holds or receives client's money ;
" Client account " means a current or deposit account in a bank in the name of the solicitor in the title of which the word " client " appears ;
" Client's money " means money which a solicitor receives as a solicitor or agent or in connection with his practice as a solicitor on account of some other person, but does not include, (a) money to which he is, or in the case of a firm, one or more of the partners are, alone entitled ; or (b) money held or received on account of a trust of which the solicitor is a solicitor-trustee;"
http://www.irishstatutebook.ie/ZZSI218Y1955.html
-> "Trust bank accounts
3.1 A trust bank account is defined in the Rules as "any trust account at a bank in New Zealand either in the name of [a] solicitor or in the name of a firm in which that solicitor is a partner or is held out to be a partner".
3.2 Trust bank accounts must be designated "trust account", and you must put the bank on notice that the money in the trust bank account is trust money."
http://www.lawyers.org.nz/memsoltaccgl.asp#3a
Peer comment(s):
agree |
AllisonK (X)
: good explanation - still, I would go with using the Dutch expression with this in brackets.
22 hrs
|
4 KudoZ points awarded for this answer.
Comment: "Thanks Chris,
I have chosen to use trust fund in this context. "
+4
2 hrs
Stichting Derdengelden
My "Juridisch Lexicon" does not translate this, but leaves it in Dutch as it is a proper name. But for "derdengelden" it gives "third parties's account", so maybe you could leave it untranslated and put something like "third parties' account" in brackets behind it.
Peer comment(s):
agree |
writeaway
: http://www.proz.com/kudoz/649849 :-)
1 min
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thank you!
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agree |
Ljiljana Malovic
10 hrs
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many thanks!
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agree |
AllisonK (X)
21 hrs
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thank you
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agree |
Siobhan Schoonhoff-Reilly
1 day 1 hr
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Bedankt!
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Discussion