Translation
is the communication of the meaning of a source-language text by means of an equivalent target-language text. Translations are performed by translators who have related background experience and are native speakers of the target languages.

Interpretation
is the facilitating of oral or sign language communication, either simultaneously or consecutively, between users of different languages.

Pricing
translation projects can be done on a flat fee basis, such as price per page or hourly rate. In North America industry standard is a per-word fee. Interpretation services are charged per hour.

Word count
is the total number of words contained in a text. Word count is the basis for price determinations for many localization-related tasks.

Language combination
is the set of languages between which a translator or interpreter works.

Certified translation
is the translation that has been reviewed by a certified translator or translation company and considered an accurate and correct reflection of the source text.

Accredited translator
is a translator who has received accreditation from a professional body.

Sworn translator
is a translator who has taken an oath and can therefore produce certified translations.

Court interpreter
is an interpreter with special subject knowledge, providing interpretation during legal proceedings.

TM (Translation Memory)
is a database that stores so-called "segments", which can be sentences or sentence-like units (headings, titles or elements in a list) that have been previously translated. A translation-memory system stores the words, phrases and paragraphs that have already been translated and aid human translators.

TEP
is the acronym for translation, editing and proofreading services package. Some agencies might choose to apply TEP process to every translation whereas others separate the three services thus, giving you more room for budgeting.

PM
Project Manger is the person who handles translation requests from clients and manages the projects until they are completed. PMs establish the proper steps and procedures for the translation process, starting with the initial project analysis and developing the project plan, to contracting and overseeing the appropriate team members. PMs are responsible for managing the triple constraint for projects, which are cost, time, and quality.

CAT
Computer-assisted translation (CAT) is a form of translation wherein a human translator translates texts using computer software designed to support and facilitate the translation process.

Source
In translation, a source text is the original text that is to be translated into another language.

Target
In translation, a target text is the text in a different language that is being translated into.

New words
when using CAT tools, “new words” refers to source language words for which no match is found in the translation memory.

100-percent matches
when using CAT tools, “100-percent matches” refers to source language words found in complete segments in a translation memory. Even though these repetition words do not need to be translated, they are typically charged for at a discounted rate because they still need to be reviewed and sometimes edited.

Fuzzy matches
when using CAT tools, “fuzzy matches” refers to all the words and phrases where something very close is found in the translation memory.

Desktop publishing services (DTP)
In translation industry, DTP refers to a process where translated text is formatted to fit a particular design or format. For example, when you have a PDF brochure that needs to be translated into French, the DTP team will reconstruct this brochure implementing the French translation into it. This job is challenging because oftentimes the translations will be shorter or longer than the source text, therefore the DTP team will have to manipulate the layout and the format of the text to produce the final translation document that mirrors the original.