In today’s globalized business environment, dealing with foreign buyers or vendors has become routine for many companies. As such, the translation and understanding of English contracts are crucial. These documents are essential not only for daily operations but also for ensuring legal accuracy and preventing disputes. Today, we delve into the complexities of translating the term “In Consideration Of” often seen in legal documents.
✅ Importance and Translation of the Term “In Consideration Of”
Translating English contracts involves complexities beyond simply translating language. Key terms in contracts can differ from their general meanings, requiring careful attention from professional translators.
For example, the phrase “In Consideration Of” often appears in contracts along with everyday English phrases like “Now, Therefore”. While it translates to ‘~을 고려해 볼 때’ in everyday English, in contracts, “in consideration of” is interpreted as a ‘약인조항’. A ‘약인조항’ specifies an exchange of consideration, translated as ‘~의 대가로, ~을 대가(악인으)로 하여’.
- NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto agree as follows:
- Korean: 이에 따라, 본 계약에 포함된 전제 및 상호 확약을 약인으로 하여, 당사자들은 다음과 같이 합의한다;
This highlights the importance of experienced translators in handling legal documents where complex terms and conditions are involved. Legal terms might appear in multiple documents, requiring consistent and accurate translation to avoid any legal pitfalls.
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To meet market demands, Bering Lab offers an AI legal translator developed in collaboration with legal experts. This translator combines Bering Lab’s specialized AI technology with the experience of legal professionals, providing performance far superior to standard generic translators. Users can perform initial translations using Bering Lab’s engine, which are then reviewed by professional lawyers to finalize the contracts. This process significantly reduces the time and cost involved in translations.
Bering Lab’s direct expert-reviewed service, BeringAI+, also offers substantial time and cost savings throughout the translation process. Currently, more than 130 law firms globally utilize our services, along with active usage by global corporations. Trusted by top-tier domestic law firms, Bering Lab provides translations that are 3 times faster and 40% cheaper than the competition through BeringAI and BeringAI+ services. Experience the high quality of our precise legal translations, including contract translations, vetted by lawyers.
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