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caution bancaire de couverture d'acompte libérable à la livraison

English translation: advance payment bond releasable/to be released upon delivery

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:caution bancaire de couverture d'acompte libérable à la livraison
English translation:advance payment bond releasable/to be released upon delivery
Entered by: xxxdf49f
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09:51 Sep 8, 2006
French to English translations [PRO]
Bus/Financial - Business/Commerce (general) / Terms of payment
French term or phrase: caution bancaire de couverture d'acompte libérable à la livraison
I realise that this is a bit near the limit but I feel it needs to be taken as a whole.

In the payment terms proposed to prospective suppliers (invitation to tender), the buyer states that a 10% downpayment will be made on order. It then goes on to say that "Ce paiement (the downpayment) sera couvert par une caution bancaire de couverture d'acompte libérable à la livraison du matériel sur le site".

Does this mean that the bank "holds" this payment until the goods are delivered?
David Goward
France
Local time: 12:50
advance payment bond releasable/to be released upon delivery
Explanation:
this type of "caution bancaire" is called an advance payment bond which is released upon delivery/acceptance of the completed works

http://www.ahtins.com/practices/bonds/definitions.cfm
"Advance payment bond: Guarantees repayment by the principal of moneys advanced in connection with a construction or supply bond or other type of contract"

http://farsite.hill.af.mil/archive/Far/1997-21-22_19Jan01_CD...
"An advance payment bond secures fulfillment of the contractor's obligations under an advance payment provision"

http://72.14.221.104/search?q=cache:UT_wrU5vk3IJ:forum.europ...
"The advance payment bond is released when entitlement to the advance payment has been established. "


http://www.maxtrad.com/glossary.html
"Advance payment bond
Bond, guarantee, or standby letter of credit given by a seller receiving an advance payment to the buyer to assure that the funds will be returned if goods are never shipped."
Selected response from:

xxxdf49f
France
Local time: 12:50
Grading comment
Tough one to call, between this answer and Marian's/ Rob's which were similar to my draft.
Thanks for the supporting links, Dominique(?).
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +1bank guarantee covering the downpayment to be released upon delivery
Marian Greenfield
4 +1released/lifted
Rob Grayson
4advance payment bond releasable/to be released upon deliveryxxxdf49f
4libérable
johnclube


  

Answers


8 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
libérable


Explanation:
It means the guarantee can be called (is effective) from that date, rather than held until that date

johnclube
United Kingdom
Local time: 11:50
Specializes in field
Native speaker of: Native in EnglishEnglish
Login to enter a peer comment (or grade)

52 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
released/lifted


Explanation:
The bank guarantee covering the deposit will be released or lifted on delivery of the required material(s) to the site.

Rob Grayson
United Kingdom
Local time: 11:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 420

Peer comments on this answer (and responses from the answerer)
agree  Natasha Dupuy
2 hrs
  -> Thanks, Natasha
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 5/5 peer agreement (net): +1
bank guarantee covering the downpayment to be released upon delivery


Explanation:
the bank doesn't hold the downpayment, but rather issues a guarantee (for some fee less than the downpayment but which will cover the amount of the guarantee in the event of non-performance) covering the amount of the downpayment... then that guarantee is released upon delivery

tampa bay CDC SPA agrmnt 1997/98The City provides down payment assistance to first-time homebuyers through the ... The City loan guarantee is released after the initial five year period. ...
www.largo.com/Commission_agendas/commission_packets/sep_18_... - 14k - Cached - Similar pages


City of Largo, Florida Post Office Box 296, Largo, Florida 33779 ...By requiring a large down payment to decrease the collateral risk, ... guaranteed by the City until paid in full or the guarantee is released by the Bank. ...
www.largo.com/Commission_agendas/commission_packets/jun_1_9... - 34k - Cached - Similar pages


MITCHELL CHARLES T INC Securities Registration: Business ...... which will be paid to the Company as a down payment of the purchase price ... period until such guarantee is released or such indebtedness is repaid, ...
sec.edgar-online.com/2005/10/11/0000950123-05-012040/Section74.asp - 188k - Cached - Similar pages


SEC Info - Showboat Marina Casino Partnership, et al. - S-4/A - On ...www.secinfo.com/drW72.91e.htm - Similar pages


SEC Info - Wise Alloys Finance Corp, et al. - 424B3 - On 11/2/04www.secinfo.com/d14D5a.15jDe.htm - Similar pages


[PDF] CURRENT PLANNINGFile Format: PDF/Adobe Acrobat - View as HTML
be transferred until the performance guarantee is released by the County ... up to $15000.00 $7500.00 for the purpose of down payment/closing cost expenses ...
www.co.collier.fl.us/.../new-ordinances/documents/ORD-omnib... - Similar pages



Marian Greenfield
Local time: 06:50
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 57

Peer comments on this answer (and responses from the answerer)
agree  Yakov Tomara: or covering the advance payment... no?
21 hrs
  -> yup... thanks
Login to enter a peer comment (or grade)

1 day10 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
advance payment bond releasable/to be released upon delivery


Explanation:
this type of "caution bancaire" is called an advance payment bond which is released upon delivery/acceptance of the completed works

http://www.ahtins.com/practices/bonds/definitions.cfm
"Advance payment bond: Guarantees repayment by the principal of moneys advanced in connection with a construction or supply bond or other type of contract"

http://farsite.hill.af.mil/archive/Far/1997-21-22_19Jan01_CD...
"An advance payment bond secures fulfillment of the contractor's obligations under an advance payment provision"

http://72.14.221.104/search?q=cache:UT_wrU5vk3IJ:forum.europ...
"The advance payment bond is released when entitlement to the advance payment has been established. "


http://www.maxtrad.com/glossary.html
"Advance payment bond
Bond, guarantee, or standby letter of credit given by a seller receiving an advance payment to the buyer to assure that the funds will be returned if goods are never shipped."

xxxdf49f
France
Local time: 12:50
Native speaker of: Native in FrenchFrench
PRO pts in category: 60
Grading comment
Tough one to call, between this answer and Marian's/ Rob's which were similar to my draft.
Thanks for the supporting links, Dominique(?).
Login to enter a peer comment (or grade)




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