In today’s global marketplace, it’s increasingly common for Korean companies to engage in transactions with international buyers or vendors. As such, English-language contracts have become a staple in dealings with foreign counterparts.
Often, international partners will either request contracts to be drafted in English or require the translation of English contracts into Korean for internal purposes. However, translating these documents is far from straightforward.
🤔 One term that frequently causes confusion is “Hereunder“. But what does it mean exactly?
“Hereunder” is commonly found in various contracts, meaning ‘under this agreement’. Let’s explore some examples!
🇺🇸 “that in no event shall Parent be obligated hereunder to discharge the Closing Date SVB Debt to the extent that the Closing Date SVB Debt exceeds $5,500,000”
🇰🇷 ”어떠한 경우에도 ▪️본 계약에 따라▪️ 거래종결일 SVB 부채가 5,500,000달러를 초과하는 경우, 모회사는 거래종결일 SVB 채무를 이행할 의무를 부담하지 아니한다.”
🇺🇸 ”provided, however, that in no event shall Parent be obligated hereunder to pay the Closing Date Company Transaction and Legal Expenses to the extent that the sum of:”
🇰🇷 ”다만, 어떠한 경우에도 ▪️다음 각 호▪️의 합계 범위 내에서 모회사는 거래종결일 회사 거래 및 법률 비용을 지급할 의무를 부담하지 아니한다:”
Navigating the complexities of English contract translations requires experience, as such intricate expressions frequently recur in documents. However, professionals with this level of expertise are scarce, leading to significant time and cost implications for contract translations. 😣
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