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.
๐ค 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!
๐บ๐ธ “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”
๐ฐ๐ท โ์ด๋ ํ ๊ฒฝ์ฐ์๋ โช๏ธ๋ณธ ๊ณ์ฝ์ ๋ฐ๋ผโช๏ธ ๊ฑฐ๋์ข ๊ฒฐ์ผ SVB ๋ถ์ฑ๊ฐ 5,500,000๋ฌ๋ฌ๋ฅผ ์ด๊ณผํ๋ ๊ฒฝ์ฐ, ๋ชจํ์ฌ๋ ๊ฑฐ๋์ข ๊ฒฐ์ผ SVB ์ฑ๋ฌด๋ฅผ ์ดํํ ์๋ฌด๋ฅผ ๋ถ๋ดํ์ง ์๋ํ๋ค.โ
๐บ๐ธ โprovided, 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:โ
๐ฐ๐ทย โ๋ค๋ง, ์ด๋ ํ ๊ฒฝ์ฐ์๋ โช๏ธ๋ค์ ๊ฐ ํธโช๏ธ์ ํฉ๊ณ ๋ฒ์ ๋ด์์ ๋ชจํ์ฌ๋ ๊ฑฐ๋์ข ๊ฒฐ์ผ ํ์ฌ ๊ฑฐ๋ ๋ฐ ๋ฒ๋ฅ ๋น์ฉ์ ์ง๊ธํ ์๋ฌด๋ฅผ ๋ถ๋ดํ์ง ์๋ํ๋ค:โ
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. ๐ฃ
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