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Translation exercises #1.


Real property sales contract


Some title

OTP Bank Rt. is a retail-oriented universal bank, with significant market share in the retail market: 35.8% in retail HUF deposits, 36,0% in foreign exchange deposits, 14,2% in retail loans as of December 31, 2003. The Bank managed more than 2,8 million retail current accounts December 31, 2003, and it was market leaders also in card issuance and electronic banking services.


The largest Hungarian bank, which was established in 1949 is determinant market player also in the corporate and municipal sector. The multi-channel sales network is an additional strength of the bank: the most extensive branch network (consisting of 427 branches) the automatic customs payment point, the more than 1.300 ATM and the telephone and internet based channels are also available to customers.


In 1993, B embarked on one of the largest computing projects in Hungary's history to become a proven success – the IIS project. The $80 million effort implemented until the end of 2003 resulted in a mainframe- and ES 7000-based, integrated, state-of-the-art account management system, using B’ GWB and Urbis banking software.


In addition to delivering equipment, the project also involves a considerable level of application development, a service we provide to OTP on a continuous basis. At present, the B system manages the data of 6.5 million clients and more than 8 million accounts and deposits of OTP Bank.


The IIS system manages between 2-3 million transactions a day, the great majority of which is generated by the nearly 6000 terminals of the branches. The 7x24 operation and the 99,96% availability is guaranteed by our well trained service staff.


In addition to the close co-operation between OTP and B, the project also owes part of its success to the local development and support team, specialised in banking issues and set up by B to combine local, Hungarian knowledge with the international expertise of its parent company.

Test your knowledge of the terms related to contracts and parties thereto

The correct use of preposition is always a headache. Gain experience in using them correctly:
Prepositions 1
Insert the prepositions in the text

Let's complicate thing further. Use prepositions in time expressions:
Prepositions in time expressions

Are you ready for the lesson on the second part of the property sales and purchase contract? Click here:
Lesson 3 - Sales contract Part 2