Glossary entry

French term or phrase:

indemnité de prise en exploitation

English translation:

scheme start-up payment

Added to glossary by Adrian MM.
Jun 13, 2021 18:28
2 yrs ago
31 viewers *
French term

indemnité de prise en exploitation

French to English Bus/Financial Real Estate
This is about a project in Portugal developing an elderly persons' residence.

"Article 6 - Indemnité de prise en exploitation de la RÉSIDENCE (« IPB »)
6.1 En contrepartie de l’engagement ferme de l’EXPLOITANT de prendre en exploitation l’intégralité de la RÉSIDENCE, le dit engagement ayant permis au PROMOTEUR de réaliser l’opération objet des présentes et de conclure le Contrat de Promotion avec le Propriétaire, le PROMOTEUR s’engage à lui verser une indemnité dite « Indemnité de prise en exploitation » (« IPB »).
6.2 L’IPB versée à ce titre par PROMOTEUR correspondra 12 mois de loyer dus par l’EXPLOITANT au Propriétaire, au jour de l’entrée en vigueur du Multiple Services Agreement ;
le montant de ladite indemnité au jour de la signature de la Convention représente la somme totale de 0.000.000 € HT.
6.3 La présente IPB fera l’objet d’un versement unique, forfaitaire et définitif par le PROMOTEUR à l’EXPLOITANT au jour de la constatation d’achèvement de la RÉSIDENCE.
Dans la seule hypothèse où la trésorerie de l’opération ne permettrait pas, au jour de l’entrée en vigueur du Contrat de Multiple Services Agreement, de régler en globalité le montant de l’IPB, les Parties conviennent de régler 85% du montant global de l’indemnité au jour de l’entrée en vigueur du Contrat de Multiple Services Agreement et les 15% restants au plus tard dans les 8 (huit) mois suivant la date d’entrée en vigueur du Multiple Services Agreement."

Not complicated. A general guess might possibly be "initial operation compensation payment". Any better ideas?
Change log

Jun 28, 2021 18:15: Adrian MM. Created KOG entry

Discussion

Mpoma (asker) Jun 14, 2021:
Yes @Daryo - yes, I think that's exactly it... and (I've now returned the job) in the end I went for "scheme start-up payment", inspired by Adrian's answer.
@Conor - yup, agree that "Developer" makes more sense here, that's what I put
Conor McAuley Jun 14, 2021:
FYI https://www.wordreference.com/fren/promoteur

promoteur,
promotrice nm, nf (financier de l'immobilier) developer n
Daryo Jun 14, 2021:
Another way of looking at it in UK there is often a "premium" to pay at the beginning of a commercial lease.

Only problem being that usually the tenant is the one paying a "premium" to the owner, while here the tenant (="l’EXPLOITANT") is the one being paid by a third party. Namely, as far as the contract between the owner and "l’EXPLOITANT" is concerned, the promoter is a third party.

One way or another, without knowing what's in the rest of this contract, this payment looks like a kind of "help to get the business of operating this residence started" a kind of "initial push".

In fact it reminds me of promoters promising to would-be buyers "we'll pay your stamp duty" - that used to be a quite frequent sales gimmick and there might be some usable parallels there. The variant (the "sale incentive") here being "buy this property and we'll help your managing agent to get started".

Also, No results found for "Indemnité de prise en exploitation" => "terme inventé de toutes pièces" / contract specific.
Mpoma (asker) Jun 14, 2021:
yes... I agree that "payment" may well work OK without explicit talk of "compensation". OTOH there is a bit of an element of quid-pro-quo here, so it seems to me that it is in fact about balancing one interest against another...
Nikki Scott-Despaigne Jun 14, 2021:
the term "compensation" I note that your initial thought includes the term "compensation". That term implies the setting-off of a loss or damage of some sort. I don't think either applies here. Just a note to suggest that unless there is loss or damage to be set-off, there needs to be a specific reason to use "compensation".

Proposed translations

3 hrs
Selected

start-up scheme payment

- a 'seed' but not necessarily seedy goodwill commission-split with the operator.

The question implies there is a Portuguese pedigree and amounts to a commission payment or payback.

L’IPB versée à ce titre par PROMOTEUR > DEVELOPER vs. PROMOTER correspondra à 12 mois de loyer : looks like a rent premium upfront, routinely taxable in the UK at least.

prise en exploitation: journalistically, bringing on stream
Example sentence:

USA: How a Commission Split Works in Real Estate

SPRING Startup Enterprise Development Scheme (SPRING SEEDS)

Note from asker:
Thanks. I like this... or something like it. I have to deliver now, and I've changed it to "scheme start-up payment", which seems to be a little more what's involved to my sense...
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "In fact I went for "scheme start-up payment""
38 mins

business operation fee


Of course that makes the abbreviation "BOF", which is quite funny...

It appears to be a fee and not some kind of security deposit.

--------------------------------------------------
Note added at 1 hr (2021-06-13 19:59:34 GMT)
--------------------------------------------------

No matches at all on the internet anyway, so you're looking at a one-off.

"Promoteur" is developer btw -- real estate developer.



--------------------------------------------------
Note added at 1 hr (2021-06-13 20:08:30 GMT)
--------------------------------------------------

Anyway, maybe "allowance", which is what "indemnité" often translates to in HR and social welfare (payslips, expenses, social welfare benefits), but not compensation, I would advise.

You could even flatten "indemnité" out to "payment", without losing any real meaning.

The Operator is basically getting some cash to get started, I would think, in return for making the whole deal possible.
Note from asker:
Thanks. This *could* be right, but I think it's maybe a bit more specific: it's about the start of operation of the residence, i.e. getting the promoter to cough up a few bob because the operator has undertaken to take on the whole building... Shame to lose that nice acronym, true.
Peer comment(s):

disagree Daryo : it can not be a fee - only the owner would pay a "management fee" to the managing company (for operating the finished building - this promoter is in charge until the building is finished - a different chapter in this story.
6 hrs
agree philgoddard : I don't understand what Daryo is on about, and I agree that it's not 'promoter'. And there are lots of things you could call this payment.
16 hrs
Thanks very much Phil! The truth will out!
Something went wrong...
3 hrs

new-build allowance

Just an idea

A Structures and Buildings Allowance (SBA) was introduced for qualifying expenditure incurred on or after 29 October 2018. The allowance is 3% of cost from April 2020 on a straight-line basis for 33 1/3 years, the allowance rate increased from 2% in April 2020.

Structures & Buildings Allowance (SBA): At a glance ...
Something went wrong...
5 hrs

start of (management) contract subvention

I would call this payment a "subvention", as it's a kind of "aid / grant" to get the managing company started.

Other possibility that would make sense:

start of (management) contract incentive

Peer comment(s):

neutral Nikki Scott-Despaigne : "Subvention", like its cousin " subsisdy" generaly apply to grants and aid payments from a government. Unless I am mistaken, the context here is not public but private sector.
7 hrs
you are right about "public funding" being the usual source of "subventions", but "incentives" can come from any type of funding.
Something went wrong...
+1
12 hrs

multiple services agreement entry fee

Perhaps adopting the term indicated as the object of the agreement would work.
BTW, I wonder why the source text uses "contrat de multiple services agreement".
Note from asker:
Thanks. I think some infelicitous expressions are probably due to the fact that there's a bit Portuguese element involved here. I've no reason to believe that it's actually been translated from Portuguese but the drafter may have been part-French part-Portuguese ... or something.
Peer comment(s):

neutral Daryo : from the point of view of the payer (that being the promoter, **not the owner**) it can not be a "fee" as this "EXPLOITANT" is mandated by the owner => any "fees" for services provided by "l'EXPLOITANT" would be paid by the owner.
2 hrs
agree Frank Foley : I reckon this covers it, but I'd use "payment" or "indemnity" instead of entry fee.
7 hrs
Something went wrong...
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search