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kunnes kuittauksen edellytykset on ratkaistu

English translation: until the conditions for the set-off are resolved

13:47 Feb 10, 2022
Finnish to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Finnish term or phrase: kunnes kuittauksen edellytykset on ratkaistu
From a contract for the purchase of shares:

"
Lisäksi Ostajalla on oikeus pidättäytyä Kauppahinnan ja/tai Lisäkauppahinnan maksusta siltä osin, kun Ostaja on esittänyt Myyjää kohtaan korvaus- tai hinnanalennusvaatimuksia, kunnes kuittauksen edellytykset on ratkaistu ja kuittaus voidaan kokonaisuudessaan suorittaa.
"

There are several things I need to understand about this passage.


1) When the sentence speaks of "vaatimukset", are these mere requests that can be refused?
Or are they *demands* that (according to this contract) need to be met by the other side?


2) What is a "kuittaus" in relation to all of this?
Is it the *granting* of what the other side is asking for?
Or is it simply a response to the other side's request (potentially including a refusal)?


3) What are "kuittauksen edellytykset"?
Preconditions that would need to be fulfilled in order for the buyer's demands to be met?
Or something more general/abstract?


(PLEASE NOTE:
I'm not simply looking for a translation of the title phrase of this thread -- I want to actually understand what is going on here, if possible.

So I'd appreciate a response (however brief) that directly addresses the questions I have asked above.)


Thank you for your time.
G. L.
United States
Local time: 08:20
English translation:until the conditions for the set-off are resolved
Explanation:
1) demands/asserts
2) I don't think the text has enough details to answer your particular question
3) the conditions for the set-off


In addition, the Buyer has the right to withhold payment of the purchase price and/or the additional purchase price to the extent that the Buyer asserts claims against the Seller for compensation or price reductions until the conditions for the set-off are resolved and the set-off can be made in full.
Selected response from:

Sam Habach
United States
Local time: 11:20
Grading comment
Many thanks for responding. In the original text, this sentence follows the one I posted about in the other thread (regarding "vastakkaiset saatavat"). I now think that it makes sense to view "kuittaus" as referring to the same "offsetting" (of the transaction price, etc.) referred to in that preceding sentence.
4 KudoZ points were awarded for this answer



Summary of answers provided
4until the conditions for the set-off are resolved
Sam Habach


  

Answers


3 days 11 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
until the conditions for the set-off are resolved


Explanation:
1) demands/asserts
2) I don't think the text has enough details to answer your particular question
3) the conditions for the set-off


In addition, the Buyer has the right to withhold payment of the purchase price and/or the additional purchase price to the extent that the Buyer asserts claims against the Seller for compensation or price reductions until the conditions for the set-off are resolved and the set-off can be made in full.


Sam Habach
United States
Local time: 11:20
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Many thanks for responding. In the original text, this sentence follows the one I posted about in the other thread (regarding "vastakkaiset saatavat"). I now think that it makes sense to view "kuittaus" as referring to the same "offsetting" (of the transaction price, etc.) referred to in that preceding sentence.
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