Glossary entry

Norwegian term or phrase:

PRO & CONTRA

English translation:

settlement statement

Added to glossary by ScanTran
Jan 4, 2018 13:49
6 yrs ago
5 viewers *
Norwegian term

PRO & CONTRA

Norwegian to English Bus/Financial Law: Contract(s)
Found in a Norwegian contract for the Transfer of Business in the context of "Partene skal foreta et pro & contra oppgjør innen 60 dager fra Overtakelsesdagen, der inntekter og kostnader knyttet til Virksomheten skal avregnes per Overtakelsesdagen i samsvar med prinsippene i denne Overdragelsesavtalen" and "prinsippene i denne Overdragelsesavtalen.
Så raskt som praktisk mulig og senest 30 dager etter Overtakelsesdagen skal Seller utarbeide et forslag til pro & contra oppgjør som dokumenter de forhold som er relevant for oppgjøret, Seller skal sørge for at Buyer gis tilgang til all informasjon og dokumentasjon, arbeidspapirer og personer, herunder revisor, regnskapsfører og andre rådgivere, som Buyer ønsker å snakke med for å kunne vurdere forslag til pro & contra oppgjøret.This relates to a calculation where the parties work out how much they owe each other and offset this. I can't think what this would be in an English contract and the dictionary definition of "pros and cons" isn't appropriate.
Proposed translations (English)
4 +1 settlement statement

Proposed translations

+1
15 mins
Selected

settlement statement

See the first link for the Norwegian explanation.

There used to be a standard form here in the U.S. known as a HUD-1 Settlement Statement which served the same purpose. It's described at the second link. The form name has changed, but I think "settlement statement" remains a good suggestion for you in this instance.
Peer comment(s):

agree Charlesp
3 hrs
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3 KudoZ points awarded for this answer. Comment: "Thanks for the answer."
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