English to English translations [PRO]
Bus/Financial - Business/Commerce (general) | | English term or phrase: pledge one's credit | In the sample paragraphs below, does this phrase mean something like "undertake to be a guarantor"?
"Unless so authorized or ratified by the Board of Directors... no officer, agent or employee shall have any power or authority... to pledge its credit or to render it liable for any purpose or for any amount."
"Q. What Does Private Activity Bond - PAB Mean?
A. Tax-exempt bonds issued by or on behalf of local or state government for the purpose of providing special financing benefits for qualified projects. The financing is most often for projects of a private user, and the government generally does not pledge its credit."
"Neither the state nor any county, school district or municipality... shall... lend or pledge its credit or make any donation to or in aid of any person, association or public or private corporation or in aid of any private enterprise for the construction of any railroad except as provided in Subsections A through F of this section." |
| MatsumiKudoZ activityQuestions: 12 (none open) Answers: 0
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| | Selected response from:
 Stephanie Ezrol
United States
Local time: 15:53
| Grading comment Thank you.
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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15 mins confidence:   peer agreement (net): +2 pledge to make avaiable one's line of credit from a financial entity
Explanation:
This phrase is frequently used in contracts and is different than being a guarantor
| Stephanie Ezrol
United States
Local time: 15:53
Specializes in field
Native speaker of:  English
PRO pts in category: 64
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| Changes made by editors |
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| Nov 6, 2011 - Changes made by Stephanie Ezrol: | | Created KOG entry | KudoZ term => KOG term |
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