www.researchgate.net/publication/303378672_A_study_of_legal_translation_from_the_perspective_of_error_analysis There are a variety of mechanisms that allow a company to use coverage to reduce the risk posed by translation risk. Companies can try to minimize conversion risk by buying currency swaps or hedging through futures. If you don`t, it can lead to not only legal problems, but also investor anger, although the company can only negotiate one international transaction. This becomes all the more important for a publicly traded company, as such a red flag can cause investors to lose confidence in the company. Accuracy of communication is paramount in court proceedings. Lawyers cannot afford mistakes or misunderstandings, which is why our team at Interpreters and Translators, Inc. only works with highly qualified and qualified legal interpreters and translators. We thoroughly screen each linguist to ensure they are professionals with legal experience in the courtroom. You can entrust the iTi team with all your legal translation needs. Do not hesitate to contact us for your next project requiring an interpreter or document translation. 860-362-0812 There are many risks and consequences of errors when using unqualified translators for legal documents, including your reputation, legal liability and much more. You will need to work with a translation company that has proven expertise in legal translation if your company needs this service.
You don`t need to look far either, as you can easily reach electronic translation services by emailing contact@etranslationservices.com or calling (800) 882-6058. Our legal experts are native speakers, live in the country and have years of experience handling legal translations for various companies in different countries. Please contact us and let us discuss your needs. Also, if you use Google Translate, it`s important to note that as soon as you enter the text, you`re giving Google the right to use and store it. This means that the content of the document is no longer confidential, which poses a significant risk. Legal translations should not be rushed. As mentioned earlier, this is jargon and legal systems and terminology vary from country to country. You are more likely to receive a high-quality translation if the translator has enough time to do the proper research and work carefully on the text. The conversion risk resulting from conversion risk is specific to companies that operate abroad or trade foreign currency. Rather, it is a corporate treasury concept to describe the risks a company is exposed to when dealing with foreign customers, i.e.
foreign transactions. First, be careful not to underestimate the importance of specialization. The legal world includes many types of specialties: international law and decisions of bodies such as the United Nations, government reports and notifications; on labour, family, environmental or trade law. Each field is a very specific niche in the field of legal translation, so look for the expertise of the translator of your choice. Conversion risk is the risk of changes in net assets, financial position and results of operations (assets, liabilities, equity) due to changes in exchange rates. It is generally disclosed in local currency when presenting the consolidated financial statements of several subsidiaries operating abroad. As you can see, there are simple steps you can take to ensure that your legal translation is error-free and avoids negative consequences. Economically, this is a risk that investors generally accept, as risk involves multi-currency gains on a large and diversified scale that they usually enjoy. The return aspect of risk is therefore rarely hedged and the currency effect on changes in sales and earnings is generally excluded from any presentation to investors.
When it comes to the party for whom the translation is intended, legal translation can compromise its reputation, waste time and money, and even affect the verdict in a trial. As far as the translation service provider is concerned, it can also suffer a loss of reputation, face legal liability and even accusations of forgery. I lead our legal interpretation and translation team. A national network of experienced interpreters and translators, all legal specialists with many years of experience. My responsibilities extend to leading our in-house secure transcription team and a team of qualified project managers. Let`s take a simple example of translation risks and their impact on businesses. Imagine a multinational operating in the UK and the US. By transaction, we mean that the company has assets and liabilities in both countries. These are just a few of the many translation errors that have had legal implications.
Some of the errors may affect the privacy of some citizens and the inadmissibility of documents in court. Conversion risk (also known as conversion risk) is the risk that a company`s stocks, assets, liabilities or profits will change due to changes in exchange rates. This happens when a company releases a portion of its shares, assets, liabilities or profits in a foreign currency. It is also known as an “accounting exposure”. It is very important to hire professionals who know legal terminology and have experience in translating legal documents! These professionals can easily detect mistakes made by other translators when reviewing important legal documents.