There are many kinds of documents translation that may be classified as business translation services.

These include emails, letter of appointments, training materials and others.

A simple but elegant definition of business translation is the translation of documents, both formal and informal, that a company produces and circulates through the organisation (and also to clients) in the course of doing business.

The originator of business documents can be the CEO, consultants, directors, training experts and supervisors.

While business documents fall into many fields, they are produced in large quantities by the following 3 fields: Finance, Insurance and Banking.

1. Financial translation service is the conversion of reports, statements, audits and many other types of documents from one language to other.

This is of vital importance, because it allows government organisations, business partners and potential clients to have a greater understanding of the nature of your business in their native language.

2. The insurance industry is one of the major fields in many countries.

Insurance is an arrangement whereby a company provides a guarantee of compensation when you suffer a specified loss (like theft or fire loss), damage, illness or death for payment of premiums.

The multi-billion dollar insurance industry hires thousands of people in Singapore, and insurance agents form a significant portion of these hires.

As you can very well imagine, specialised terms like premiums, beneficiaries, claimants and liabilities must be translated precisely in insurance contracts in order to prevent any problems when making claims later, and so translators who focus on insurance translation services must have the prerequisite knowledge and work experience before providing this kind of translation service.

3. We are all familiar with banks, as that is where most people deposit their salary and keep their savings over long periods of time.

When taking on an automobile or home loan, bank loans are a common and viable choice for many borrowers.

Therefore, documents like financial reports, loan agreements, credits reports, account opening forms and demand drafts must be flawlessly and meticulously translated from the source language to the target language, as any mistake can lead to disastrous consequences.

This is especially so in Singapore, because the banking industry has stringent requirements to be adhered to.

Top-notch translators in this field need to be exposed to the wide assortment of documents that are regularly used and this can only happen when they have spent many years working in this domain.