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abstrakte Garantie

English translation: non-accessory guarantee

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:abstrakte Garantie
English translation:non-accessory guarantee
Entered by: transatgees
Options:
- Contribute to this entry
- Include in personal glossary

18:25 Mar 26, 2007
German to English translations [PRO]
Bus/Financial - Law: Contract(s)
German term or phrase: abstrakte Garantie
In the section of a leasing contract dealing with collateral to be provided be the lessee.

a) eine abstrakte Garantie von ……………………… gemäß Beilage 2.
transatgees
United Kingdom
Local time: 22:30
non-accessory guarantee
Explanation:
According to Zahn.
Selected response from:

Kim Metzger
Mexico
Local time: 16:30
Grading comment
I missed this one in my Zahn.

Thank you
4 KudoZ points were awarded for this answer

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Summary of answers provided
4free-standing guarantee (no underlying debt)xxxAdrian MM.
3non-accessory guarantee
Kim Metzger


  

Answers


7 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
abstrakte garantie
non-accessory guarantee


Explanation:
According to Zahn.


    Zahn - Bank- und Börsenwesen
Kim Metzger
Mexico
Local time: 16:30
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1209
Grading comment
I missed this one in my Zahn.

Thank you
Login to enter a peer comment (or grade)

42 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
free-standing guarantee (no underlying debt)


Explanation:
Zahn's glossary entry of a 'first demand payment obligation' should be treated with caution.

The web ref. says no underlying debt is required.








Example sentence(s):
  • ten werden; die begu‹nstigte Bank kann die abstrakte Garantie unter Umsta‹nden. selbst dann abrufen, wenn gar *keine gültige zu sichernde Forderung* besteht. ...
  • Normally this guarantee function was bundled with the. loan, but for some time the World Bank tried to develop free-standing guarantee instruments to ...

    Reference: http://www.oenb.at/de/img/lf_ksr_slowenien_tcm14-22883.pdf
    Reference: http://www.eib.europa.eu/Attachments/efs/eibpapers/y98n2v3/y...
xxxAdrian MM.
Local time: 23:30
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 572
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Changes made by editors
Mar 26, 2007 - Changes made by Steffen Walter:
Term askedabstrakte garantie » abstrakte Garantie


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