Adrian MM. (X) Jul 11, 2013:

Posting collateral in AmE/BrE Can we just establish that posting collateral is indeed BrE and not JUST AmE as is posting of a bail bond and security en.wikipedia.org/wiki/Collateral_management‎

Anna ZANNELLA (asker) Jul 11, 2013:

@Jim Yup. Naaaah. IMHO... even the most creative finance person wouldn't get away with selling what has been posted as collateral, or posting what has been already sold as collateral. With enough $ resources you can do both, sure, but I can't see it with the same receivables.

Anna ZANNELLA (asker) Jul 9, 2013:

I was going to use ... "and", (and/or) avail themselves of of the sale of receivables. As a separate option/right. The 2nd part seems a separate option to me. The writer may have missed a (iv), i.e., "(iv) avail themselves of of the sale of receivables." The watermark on the doc says DRAFT. I may have to point it out to the client.

James (Jim) Davis Jul 9, 2013:

post collateral to back third parties and use the collatteral
costituire ipoteche a garanzia di soggetti terzi e utilizzarle ai fini dei

to obtain the best posssible loan terms and conditions, by making use
termini finanziari, ritenuti più idonei, avvalendosi

of the sale of receivables (factoring)
della cessione dei crediti (factoring)

Makes no sense. It is like a riddle.

Anna ZANNELLA (asker) Jul 9, 2013:

The paragraphs that precede and follow this paragraph are unrelated except to explain the amount of Royalties to be received. This is a License Agreement. The Licensor (concedente) is owed Minimum Guaranteed Royalties across 10yrs which amount to millions, which are to be paid in instalments by the Licensee. The Licensor is doing this. He is using his royalty receivables I thought, as bankable financial instruments, rather than selling his trademark rights.

James (Jim) Davis Jul 9, 2013:

I'm not clear what is happening here. "il concedente" Chi conceded che cosa a chi? You cannot use the "cessione di crediti" as collateral, because the "cessione" is the transfer of ownership, i.e. you cannot use what is not yours as collatera.

Anna ZANNELLA (asker) Jul 9, 2013:

Yup, 'tis a bit. I'm 80K out of Milan and its quite hot and muggy.

James (Jim) Davis Jul 9, 2013:

It's hot :) ...

Anna ZANNELLA (asker) Jul 9, 2013:

:) Hey Jim! ...

Anna ZANNELLA (asker) Jul 9, 2013:

@tom thumb yes I agree, .... now .... that only the assignment of receivables part is factoring ... but I didnt understand it then and the "ipoteche" part was confusing. BTW are you missing a preposition or something - which? ... by? . Thanks

Adrian MM. (X) Jul 9, 2013:

cessione dei crediti (factoring) surely, only the assignment of receivables part is factoring.

BTW are you missing a preposition or something - which? ... by? -> probably but don't know where.

Anna ZANNELLA (asker) Jul 8, 2013:

I am either confused as to what is happening here: from the Internet """"Factoring is a word often misused synonymously with invoice discounting, known as "Receivables Assignment" in American Accounting ("Generally Accepted Accounting Principles"/"GAAP" propagated by FASB)[2] - factoring is the sale of receivables, whereas invoice discounting is borrowing where the receivable is used as collateral.[2] However, in some other markets, such as the UK, invoice discounting is considered to be a form of factoring involving the assignment of receivables and is included in official factoring statistics.[4] It is therefore not considered to be borrowing in the UK. In the UK the arrangement is usually confidential in that the debtor is not notified of the assignment of the receivable and the seller of the receivable collects the debt on behalf of the factor. In the UK, the main difference between factoring and invoice discounting is confidentiality."""" NB: The writer of the contract in Italian provided the "(factoring)" term.