“The ECB has contacted us asking to provide the following documentation (both in hard copy and via e-mail) for all the freelancers involved in the translation of their documents (currently or in the future – we are due to receive some large projects in Sept – Dec):

1. Completed and signed freelancer statement (attached). Additionally, I have attached a ‘guide’ on how to fill in the freelancer statement with the sections that need to be completed highlighted in yellow (PDF file).

2. Proof that you have the relevant translation experience (at least two years of experience required) – i.e. either references from previous employers or 2 years worth of invoices required

3. Proof that you have a bachelor’s degree, or higher degree, in a relevant linguistic field – i.e. copies of degree certificates

4. Proof of your signing power (e.g. commercial register/power of attorney, a copy of identity card, if you are a freelancer) – i.e. copy of passport / ID card

5. Official certificate proving that your company has paid its social security contributions – This only applies if you are registered as a company rather than as an individual freelancer. If you are a registered
company then a self-declaration is sufficient. (see attached)

6. Official certificate proving that you/your company have/has paid your/its taxes – Self-declaration form is sufficient. (see attached)

7. Extract from the judicial record (or equivalent document issued by a competent judicial or administrative authority) proving that you/your company is not in one of the situations listed under item 2, 3 or 4
above, Declaration of honour. – Self-declaration form is sufficient (see attached)

8. Profit and loss statements and balance sheets or extracts from profit and loss statements and balance sheets for at least the three financial years specified in Section 3. If the accounts for these financial years have not yet been closed, please submit equivalent documentation if the company law of the country where your company is established does not require you to publish the profit and loss statement and/or balance sheet. – This only applies if you are registered as a company rather than as an individual freelancers. If you are a registered company then 3 years worth of Profit and Loss Statements required.”

The endless quality procedures drawn up by the industry ensure all the boxes are ticked, but do they really ensure quality? To my mind the time pressures mean translators have little scope to do more than the bare minimum. How many people now read through the source text before translating? What about printing out the final text and reading through it? These used to be standard procedure but are now sadly too often overlooked. Many projects either have no translation style guide or provide a mountain of information that is impossible to digest in the time allotted.

So what can be done? To my mind, much of the problem comes down to poor management and a lack of planning. For starters, translation needs to be integrated into the drafting process and not tagged on at the end. Many documents are drafted over months and yet translated in days. Would it not possible to have sections completed early translated in a calm and composed manner? Clear and simple style guidelines would evidently be positive. A small glossary of key terms is also better than a 1,000 term string dump. Simple steps that would at least help ease the pressure.

In order to preserve his legacy, Jordi Balcells Antón has very thoughtfully compiled all of Miguel’s writings and asked that additional copies be distributed on the web. I’m honouring his request.

Jordi’s original post, dated 30 September 2013, can be found here: http://www.jordibal.com/2013/09/el-legado-de-miguel-llorens–miguel-llorens-legacy.html?showComment=1380605612139

Should it no longer be available, you can download an archive containing ePUB, MOBI (Kindle) and PDF versions by clicking here.

May he rest in peace!

Definition:
Organisme spécialisé dans la notation financière d’émetteurs ou de titres émis, dans le but de fournir aux investisseurs une appréciation de la qualité des titres, des risques qu’ils constituent et de la capacité de l’émetteur à faire face à ses engagements financiers.
Author: Dictionnaire de la comptabilité et de la gestion financière anglais-français (version 1.2)

More technical stuff:
English translation: Rating agency
Source: Dictionnaire de la comptabilité et de la gestion financière anglais-français (version 1.2)
Date: 2006

Context:  
Les actifs des conduits et les passifs qu’ils émettent sont notés par les agences de notation qui surveillent l’adéquation du niveau de risque supporté par chaque tranche de risque vendu avec la note attribuée.

Definition:
Opération ou technique de gestion financière par laquelle, dans le cadre d’une convention, une entreprise gère les comptes clients d’entreprises en acquérant leurs créances, en assurant le recouvrement pour son propre compte et en supportant les pertes éventuelles sur des débiteurs insolvables.
Author: Grand Dictionnaire Terminologique

More technical stuff:
English translation: Factoring
Source: Grand Dictionnaire Terminologique
Date: 2000

Context:  
Affacturage : ce métier, n° 3 de l’affacturage en France, apporte des solutions aux entreprises pour la gestion des factures (financement, assurance, recouvrement).

Definition:
L’actualisation consiste à ramener sur une même base des flux financiers non directement comparables qui se produisent à des dates différentes. Cela permet non seulement de les comparer mais également d’effectuer sur eux des opérations arithmétiques.
Author: Wikipedia (http://fr.wikipedia.org/wiki/Actualisation)

More technical stuff:
English translation: Discount
Source: Self
Date: 2012
Note: Saxce Accounting, Tax and Financial Dictionary notes that “discount to present value” might be appropriate in certain contexts and that “valeur actualisée” is best translated as “present value”.

Context:  
Les flux des emprunts et dettes de titres à taux fixe sont actualisés en fonction de la valeur des taux fixes du marché en date d’arrêté, pour une dette de même maturité résiduelle.

Definition:
Ensemble des éléments nécessaires à l’exploitation, mais pas détruits par celle-ci.
Author: Vernnimen.net (http://www.vernimmen.net/html/glossaire/definition_actif_immobilise.html)

More technical stuff:
English translation: Non-current asset
Source: Vernnimen.net (http://www.vernimmen.net/html/glossaire/definition_actif_immobilise.html)
Date: 2011
Note: Saxce Accounting, Tax and Financial Dictionary offers “long-term assets” as a possible translation and this would be more than acceptable in non-IFRS contexts.

Context:  
Les actifs immobilisés, incorporels et corporels, font l’objet d’une dépréciation lorsque, du fait d’événements ou de circonstances intervenus au cours de la période (obsolescence, dégradation physique, changements importants dans le mode d’utilisation, performances inférieures aux prévisions, chute des revenus et autres indicateurs externes…), leur valeur recouvrable apparaît inférieure à leur valeur nette comptable.

Definition:
Actif garantit par une opération faite dans le sens opposé (ex. : vente en USD couverte par un achat en USD).
Author: Self

More technical stuff:
English translation: Hedged asset
Source: Self
Date: 2012

Context:  
Les compléments de dépréciation réalisés sur les actifs couverts par la garantie financière au titre du deuxième semestre 2009 s’élèvent à – 40,3 millions d’euros après prise en compte de l’effet de la garantie financière, soit une neutralisation d’un montant de dépréciation de 231,3 millions d’euros.

Definition:
Ensemble des éléments servant au cycle d’exploitation mais dont la durée de vie au sein du cycle de production et d’exploitation est habituellement courte.
Author: trader-finance.fr (http://www.trader-finance.fr/lexique-finance/definition-lettre-A/Actif-circulant.html)

More technical stuff:
English translation: Current assets
Source: Saxce Accounting, Tax and Financial Dictionary
Date: 2007

Context:  
L’actif circulant est composé d’actifs temporaires créés par l’exploitation.

When I moved into translation my reputation seemed to follow me. A client isn’t happy? Send it over to Tom and he’ll sort it out. And given reasonable time and space it was easy to comply. Feedback was generally glowing. That was 5 years ago. Now things are radically different. The number of projects I’m being asked to save has skyrocketed but the timeline is being compressed. It has to be fixed now. I often wonder whether in many instances the problem mightn’t have been avoided by giving the translator a little more time.

In my world there is a major difference between the occasional unforeseen disaster requiring an urgent response and poor planning. If you can’t plan properly you’re heading for the rocks no matter what your field. In translation, however, the effect is exponential. It is like asking your auditors to audit your accounts today and sign-off by close of business. Are they likely to i) agree or ii) do a good job? Probably no on both counts. I know from personal experience that agencies are terrified of upsetting clients but they need to take responsibility for bringing down expectations; for giving translators the time they need to make clients happy. In the case of smaller projects we’re often talking about an extra day or half-day. It somehow seems doable.

…