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mandato di credito


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06:12 Jul 11, 2008
Italian to English translations [PRO]
Bus/Financial - Finance (general)
Italian term or phrase: mandato di credito
appare in una lista di fideiussioni e garanzie. Ecco la frase:

Il direttore finanza contratta direttamente con le banche il rilascio di una forma di garanzia a favore di una società del gruppo, tra cui:

1) mandati di credito;
2) lettere di standby;
3) patronage;
4) garanzie bancarie.

Basandomi sulle definizioni qui sotto, mi sembra che si tratta di un "bank guaranty" ma questo non sarebbe uguale a fideiussione/garanzia bancaria? (che già c'è nella lista)


Il mandato di credito è un contratto dal contenuto fideiussorio, dove un soggetto (solitamente una banca), si impegna nei confronti di un altro soggetto, da cui gli è stato conferito incarico, di garantire per un terzo.

La prassi che regola l’obbligazione assunta, non sono diverse da quelle della fideiussione; infatti come nella fideiussione la persona che garantisce ne risponde direttamente, anche nell’obbligazione assunta avviene la stessa cosa.

Questo tipo di garanzia non può essere applicata facilmente nella pratica corrente, dato che a questa è preferita la fideiussione, di cui a tutti gli effetti il mandato di credito rappresenta soltanto una sostituzione, utilizzabile al più, ed in modo più corretto sotto forma di lettera di patronage.

bank guaranty
Letter of indemnity issued by a bank to a third party, on behalf of a customer and against the customer's counter-guaranty as a security. A bank, for example, may issue a guaranty to a shipping company protecting it from any harm or loss arising out of the release of a shipment where its consignee (bank's customer) has lost or misplaced original shipping documents. In construction industry, a bank guaranty (as a bid bond or performance bond) is an essential requirement for the award of a contract.

Any ideas?
Julie Preston
United Kingdom
Local time: 11:55

Summary of answers provided
4bank guarantees (madato di credito - credit mandate)
James (Jim) Davis
4warrant to grant credit
3letter of credit
Paul O'Brien

Discussion entries: 13



1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5
letter of credit

http://www.google.com/search?hl=en&q="letter of credit"&btnG...

Note added at 2 hrs (2008-07-11 08:59:17 GMT)

there's a revocable letter of credit (L/C) and an irrevocable letter of credit (ILOC). plust the definition of "bank guaranty" given in the asker's notes is precisely "letter".

Paul O'Brien
Local time: 12:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 172

Peer comments on this answer (and responses from the answerer)
neutral  James (Jim) Davis: Yes "letter of indemnity", not credit. If the beneficiary agrees it can be revoked. But give references please Paul. I have no wish to be right at all costs. Much prefer to be wrong and gain some "guaranteed information".
1 hr
  -> your wikipedia ref says it: "The LC CAN ALSO BE the source of payment for a transaction meaning that an exporter will get paid by redeeming the letter of credit". plus, the question is "mandato di CREDITO".
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5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
warrant to grant credit

I took this from an IT>EN financial dictionary.

Note added at 23 hrs (2008-07-12 05:17:09 GMT)

Just to add the definition that is in this dictionary:

"mandato di credito" - warrant to grant credit
* contratto in base al quale una parte s'impegna verso un'altra di finanziare una terza parte in nome e per conto proprio. Chi ha conferito l'incarico (spesso tramite lettera di credito) risponde del debito futuro in qualita' di fideiussore.

Local time: 12:55
Native speaker of: Native in EnglishEnglish

Peer comments on this answer (and responses from the answerer)
neutral  Paul O'Brien: gets one Ghit and it's with the Italian Autogrills.
10 hrs
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1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
bank guarantees (madato di credito - credit mandate)

They seem to be substituted for fideiussioni, which are bank guarantees, so I should do it this way to distinguish from garanzie bancarie, which are, or at least include, fideiussioni.
A letter of credit is irrevocable, much stronger than a guarantee. Practically as good as cash in hand.

Note added at 2 days23 hrs (2008-07-14 06:06:28 GMT)

Hi Julie,
you've done an incredible amount of research, which seems excellently done. However, this seems to be just a list of the finance directors powers. Italian writers generally always give a very exhaustive list in these cases. Also they copy from the preceding version of a document and then add the new part. I think that in practice "mandati di credito" are practically obsolete now, having been replaced by fideiussioni. I've translated dozens and dozens of financial reports for companies and banks and never seen one, while fideiussioni are all over the place. Consider the difference in the number of hits for these two Googles:
http://www.google.com/search?num=100&hl=en&safe=off&q="un ma...

http://www.google.com/search?num=100&hl=en&safe=off&q="una f...

James (Jim) Davis
Local time: 14:55
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4482

Peer comments on this answer (and responses from the answerer)
neutral  Paul O'Brien: not true. thre's a revocable letter of credit (L/C) and an irrevocable letter of credit (ILOC).
1 hr
  -> A letter of credit is used by an importer to pay for goods. It is a different animal. http://en.wikipedia.org/wiki/Letter_of_credit http://it.wikipedia.org/wiki/Lettera_di_credito
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