Glossary entry (derived from question below)
Spanish term
United Kingdom
pagadero
The phrase is: "Capital social $XXXXXXX.- pagadero 3 años según necesidades sociales". It goes on to explain into what proportions the share capital is divided.
Would I be correct in understanding this to mean the shareholders aren't expected to pay their contributions until the expiration of 3 years after the company's formation? If so, is their a succinct way of writing this in formal English?
Thank you in advance.
Oct 23, 2018 15:13: Yana Dovgopol changed "Term Context" from "This is the entry into the \"Diario Oficial\" of a sociedad de responsabilidad limitada/limited liability company\'s formation in Chile. The phrase is: \"Capital social $XXXXXXX.- pagadero 3 años según necesidades sociales\". It goes on to explain into what proportions the share capital is divided. Would I be correct in understanding this to mean the shareholders aren\'t expected to pay their contributions until the expiration of 3 years after the company\'s formation? If so, is their a succinct way of writing this in formal English? Thank you in advance." to "This is the entry into the \\\"Diario Oficial\\\" of a sociedad de responsabilidad limitada/limited liability company\\\'s formation in Chile. The phrase is: \\\"Capital social $XXXXXXX.- pagadero 3 años según necesidades sociales\\\". It goes on to explain into what proportions the share capital is divided. Would I be correct in understanding this to mean the shareholders aren\\\'t expected to pay their contributions until the expiration of 3 years after the company\\\'s formation? If so, is their a succinct way of writing this in formal English? Thank you in advance. " , "Neophyte" from "Checked" to "Not Checked"
Non-PRO (2): Charles Davis, Jane Martin
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Proposed translations
payable
The term is pretty standard boilerplate.
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Note added at 16 mins (2018-10-22 18:34:55 GMT)
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https://en.wikipedia.org/wiki/Limited_liability_partnership
Sanders' donation was $450,000, payable over three years...
... regardless of the fact that it was to be paid over three years....
| Hi neilmac - I've added a comment in the discussion above, for some reason the link to be able to leave a note here only just became clickable! As Robert said, it is indeed the 3 años that's causing my confusion. |
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Robert Carter
: Hi Neil. So, are you in effect putting your money on "payable over" rather than "after"? It doesn't seem to me that asker was having trouble with "pagadero", but rather "pagadero 3 años".
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Well, "payable over" = they have 3 years to pay. Payable after 3 years seems less likely, but as the preposition is missing, all we can do is guess.
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Discussion
"La ley chilena no señala ni una cifra de capital mínimo ni una cifra de capital máximo para la constitución de una SRL, si bien éste ha de estar totalmente desembolsado en un plazo no superior a 3 años. Por lo que el capital que aporten los socios será el necesario para dar inicio a su empresa."
Many thanks for all your replies, including Robert for pointing out that they are indeed members, it's an LLC.
As Neilmac correctly pointing out below, it's more the lack of preposition in this term that is causing me issues than the word pagadero itself... I feel it quite clearly translates as payable but I was struggling to understand whether over/by/after/etc. 3 years.
Andy thanks for finding that description of the Ltda., very succinct and I hadn't come across it myself. Your suggestion 'and "payable as called up" - It's understood that this only occurs because the company needs it' seems good, but it still misses that vital preposition: are we saying it's likely tot be called up at any point during the 3 years? At the expiration of 3 years?
This, in Chile, is not the case.
"La Sociedad de Responsabilidad Limitada (Ltda.) es la sociedad más constituida en Chile actualmente, alguna de las ventajas de estas sociedades son que los socios responden hasta el monto de sus aportes, no requiere monto mínimo para su constitución, son más fáciles de administrar que las sociedades anónimas.
Asimismo, deben cumplir con menos regulaciones que las sociedades anónimas, no requieren de un directorio. Otra ventaja de la sociedad de responsabilidad limitada es que ... ofrecen gran flexibilidad (por ejemplo, el objeto de la sociedad puede ser tan amplio como los socios quieran, el monto del capital puede ser el que los socios quieran y *pagarse en el tiempo que los socios quieran* y las utilidades pueden ser distribuidas ...
So "pagadero" would seem to be "and payable as called up" - It's understood that this only occurs because the company needs it.
In Spanish, both partners and members are referred to as "socios", whereas shareholders are "accionistas".
Perhaps this means there will be a period of up to 3 years in which to make those contributions, during which time the company may decide that certain percentages need to be paid in at certain points. "Payable over 3 years"?