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titolo astratto

English translation: abstract guarantee

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Italian term or phrase:titolo astratto
English translation:abstract guarantee
Entered by: Ivana UK
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14:07 Sep 3, 2006
Italian to English translations [PRO]
Bus/Financial - Finance (general)
Italian term or phrase: titolo astratto
"Non sono promissory notes perche i titoli, in questo caso sono astratti."

In Italian the distinction between "titoli astratti" and "titoli causali" is easy to find on the net, with accompanying definitions. But what is the English equivalent in terms of bonds/securities (note: we are not dealing with the "abstract of a security"!)? There's a previous discussion of the term on this site, but I'm not happy with the level of insight it yields.
Tony Keily
Local time: 04:07
abstract securities
Explanation:
the highest possible certainty of payment. The usual, abstract securities are: Letters of Credit ... legal action with doubtful results. Non-abstract securities are instruments such as ...

www.exportupdate.com/cms/index.php?id=199,0,0,1,0,0&jump=

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Note added at 8 mins (2006-09-03 14:16:18 GMT)
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What is the difference between a guarantee and a surety?
Answer: A guarantee is abstract by nature. In other words, it is separate from the underlying transaction. A surety, on the other hand, is accessory, meaning that it is linked to the underlying transaction. As a result, in contrast to guarantees payable on first demand, claims under a surety can be contested by both the principal and the surety.

http://www.ubs.com/1/e/ubs_ch/bb_ch/finance/trade_exportfina...


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Note added at 12 mins (2006-09-03 14:19:49 GMT)
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** ABSTRACT GUARANTEE ** seems to be the more common term in English.

Glossar Trade & Export Finance,Glossar (R) ... Clauses in letters of credit which allow advances to the beneficary prior to the ... the form of an abstract guarantee or surety (domestic ...

www.ubs.com/1/e/ubs_ch/bb_ch/finance/.../glossar/glossar_r.... -

Upon the request of their customers (guarantee applicants) banks usually issue abstract guarantees, i.e ... Under such abstract guarantees payable on first demand, the bank issuing the ...

www.bayernlb.de/p/.../kdneu/untern/intgesch/aurisik/garanti...
Selected response from:

Ivana UK
United Kingdom
Local time: 03:07
Grading comment
I was assuming that a specific type of security was being referred to, with a corresponding English term. From Ivana's answers it seems likely that 'abstract' is a quality attaching to the security, manifested in a number of specific types of security.

Many thanks!
4 KudoZ points were awarded for this answer

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Summary of answers provided
3abstract securities
Ivana UK


  

Answers


4 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
abstract securities


Explanation:
the highest possible certainty of payment. The usual, abstract securities are: Letters of Credit ... legal action with doubtful results. Non-abstract securities are instruments such as ...

www.exportupdate.com/cms/index.php?id=199,0,0,1,0,0&jump=

--------------------------------------------------
Note added at 8 mins (2006-09-03 14:16:18 GMT)
--------------------------------------------------

What is the difference between a guarantee and a surety?
Answer: A guarantee is abstract by nature. In other words, it is separate from the underlying transaction. A surety, on the other hand, is accessory, meaning that it is linked to the underlying transaction. As a result, in contrast to guarantees payable on first demand, claims under a surety can be contested by both the principal and the surety.

http://www.ubs.com/1/e/ubs_ch/bb_ch/finance/trade_exportfina...


--------------------------------------------------
Note added at 12 mins (2006-09-03 14:19:49 GMT)
--------------------------------------------------

** ABSTRACT GUARANTEE ** seems to be the more common term in English.

Glossar Trade & Export Finance,Glossar (R) ... Clauses in letters of credit which allow advances to the beneficary prior to the ... the form of an abstract guarantee or surety (domestic ...

www.ubs.com/1/e/ubs_ch/bb_ch/finance/.../glossar/glossar_r.... -

Upon the request of their customers (guarantee applicants) banks usually issue abstract guarantees, i.e ... Under such abstract guarantees payable on first demand, the bank issuing the ...

www.bayernlb.de/p/.../kdneu/untern/intgesch/aurisik/garanti...

Ivana UK
United Kingdom
Local time: 03:07
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in ItalianItalian
PRO pts in category: 311
Grading comment
I was assuming that a specific type of security was being referred to, with a corresponding English term. From Ivana's answers it seems likely that 'abstract' is a quality attaching to the security, manifested in a number of specific types of security.

Many thanks!
Notes to answerer
Asker: Thank you, Ivana. These are great suggestions.

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