GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
---|---|---|---|---|---|---|
|
15:25 May 20, 2005 |
Hungarian to English translations [PRO] Bus/Financial - Finance (general) | |||||||
---|---|---|---|---|---|---|---|
|
| ||||||
| Selected response from: Ildiko Santana United States Local time: 14:31 | ||||||
Grading comment
|
Summary of answers provided | ||||
---|---|---|---|---|
4 | guarantees and sureties |
| ||
4 | co-signer |
| ||
3 | guarantee/ surety vs guarantee commitment |
|
Discussion entries: 2 | |
---|---|
garancia- és kezességvállalás guarantees and sureties Explanation: En mar talalkoztam sokszor ketnyelvu banki anyagokban a "garancia es kezessegvallalas" angol "guarantees and sureties" forditasaval. Sajnos slamposabb jelentesekben legtobbszor nem tesznek kulonbseget magyarul a garancia es kezessegvallalas kozott, illetve kolcsonosen felcserelik oket, de ebben az esetben talan az altalam javasolt megoldas beleillik a szovegbe. |
| |
Grading comment
| ||
Login to enter a peer comment (or grade) |
kezességvállalás co-signer Explanation: cosigner A person who signs his or her name to a loan agreement, lease or credit application. If the primary debtor does not pay, the cosigner is fully responsible for the loan or debt. Many people use cosigners to qualify for a loan or credit card. Landlords may require a cosigner when renting to a student or someone with a poor credit history. http://www.nolo.com/definition.cfm/Term/7692EBF6-10C2-40E7-9... -------------------------------------------------- Note added at 18 mins (2005-05-20 15:44:03 GMT) -------------------------------------------------- comaker An individual other than the borrower who signs a promissory note and thereby assumes equal liability for it. also called comaker. also called cosigner. http://www.investorwords.com/943/comaker.html This is much less frequently used than cosigner (8700 hits vs 220,000 hits) -------------------------------------------------- Note added at 20 mins (2005-05-20 15:45:53 GMT) -------------------------------------------------- The act is to cosign for the loan or to become a co-signer on the loan -------------------------------------------------- Note added at 21 mins (2005-05-20 15:47:47 GMT) -------------------------------------------------- E.g. \"parent A cosigns for the loan\" (omit the word provides) -------------------------------------------------- Note added at 1 hr 4 mins (2005-05-20 16:30:19 GMT) -------------------------------------------------- To assume guarantee ~ to cosign for a loan However, I am afraid that I misunderstood the question in the first place. If the issue is in re a parent company that guarantees a loan of a subsidiary, then, as far as I know the word used almost exclusively is guarantee. Co-signing is more common for a private borrower. The guaranties may vary (short and long term, for a particular credit action or more general) but all of them pretty much always called guarantees. An example of using cosigning in a similar situation is in: http://www.yp.com.hk/iypbusiness_e03/en/images/article/Finan... |
| |
Login to enter a peer comment (or grade) |
kezességvállalás guarantee/ surety vs guarantee commitment Explanation: This is really tricky, there are so many ways to provide a collateral... At an rate, there is a difference between adóstárs and készfizető kezes: in the first case, #2 shall pay if #1 cannot (will not), but shall pay with the same conditions (say, by instalments), but a "készfizető kezes" is liable for the whole of the outstanding amount, if the bank/ lender opts for a collection. Now, guarantee = kezesség (a bail - Bürgschaft - is also possible, but it has got more to do with sums deposited for a given purpose, which is not the case here), while surety/suretyship focuses on the element of having a "background" (a parent/subsidiary typically is in that line). I am far from sure what to pick here - I would probably go with guarantee, there is nothing wrong about that, but I simply like surety. As to the difference between the two cases (if I understood you well): - when the parent company provides a guarantee for the subsidiary, this means that whatever happens to the subsidiary, the bank may rely on the parent (usually, this is a condition set by the bank), - when the bank provides a guarantee (an off-balance sheet item), it is fee business: they charge for that. These commitments may be (and usually are) also secured - by the parent, in this case. Another possibility is (if I am wrong with my above understanding) that the parent provides an "umbrella" guarantee for the current account of the subsidiary and, in addition to that, acts as the guarantor for different projects underway with the bank - so it is reasonable to put those into a separate table. In this latter case, however, I would rather use something like "guarantee obligations of...", instead. As to joint and several liability, it is somewhat different: it is closer to co-signing = any of those who are "in" can be forced to pay. Say, there are 3 debtors and they owe you one million: if two of them go bankrupt, the third one shall pay the whole of it. (So this is more about the technical side, because in a guarantee, you can set limits.) |
| |
Grading comment
| ||
Login to enter a peer comment (or grade) | ||
The asker has declined this answer Comment: not a decline but a thank you for the extensive explanation! Have to give the points to the fastest answer, but thanks again. |
Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.