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far decadere dalla garanzia

English translation: to withdraw the guarantee


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01:34 Jan 15, 2012
Italian to English translations [PRO]
Law/Patents - Law: Contract(s)
Italian term or phrase: far decadere dalla garanzia
One of many exchanges between lawyers about a supposed breach of contract. Context is:

La nostra Cliente si riserva ogni ulteriore diritto, azione e facoltà ai sensi del contratto di factoring, ivi compresa quella di sospendere o FAR DECADERE la Vostra Società dalla garanzia di solvenza anche per ogni altro credito ad essa cedutole, pure vantato nei confronti di debitori diversi da quelli sopra menzionati.

Thanks to all.
paolopietro
English translation:to withdraw the guarantee
Explanation:
In the specific case of a factoring agreement, where the assignee decides that the assignment is no longer to be pro solvendo. This means that the original creditor will bear the risk of non payment by the debtor, and the assignment becomes pro soluto.
Selected response from:

Thomas Roberts
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +4to withdraw the guarantee
Thomas Roberts
4revoke the nonrecourse clause
James (Jim) Davis
4terminate/void the (solvency) guarantee
Claudia Cherici
4to forfeit a guarantee/warranty
Jonathan Hargus


  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
to forfeit a guarantee/warranty


Explanation:
I believe this simply means to forfeit a guarantee/ warranty or right to something previously agreed upon.

Jonathan Hargus
United States
Local time: 23:33
Native speaker of: Native in EnglishEnglish
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
terminate/void the (solvency) guarantee


Explanation:
terminate or void the solvency guarantee provided to your Company...

Claudia Cherici
Local time: 05:33
Specializes in field
Native speaker of: Native in ItalianItalian
PRO pts in category: 48
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6 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
to withdraw the guarantee


Explanation:
In the specific case of a factoring agreement, where the assignee decides that the assignment is no longer to be pro solvendo. This means that the original creditor will bear the risk of non payment by the debtor, and the assignment becomes pro soluto.

Thomas Roberts
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in ItalianItalian
PRO pts in category: 751
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Vincenzo Di Maso
1 hr

agree  Annalisa Degli Esposti
2 hrs

agree  Peter Cox
19 hrs

agree  Isabelle Johnson: I agree
1 day16 mins
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8 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
revoke the nonrecourse clause


Explanation:
This is all about factoring. Here the cessionario (factor) has waived the "garanzia di solvenza sulla solvenza del debitore ceduto." Basically, the factor buys the invoices, but the questions is who is liable if the invoices aren't paid, if the debtor goes bankrupt (insolvent, guaranzia di solvenza). Here the factor has guaranteed the debtor, so will lose if the debtor doesn't pay the invoices. The factor has accepted the risk and has "no recourse" against its client if the invoices are not paid. This is termed "nonrecourse factoring". Obviously there must be a "nonrecourse" clause in the contract. Here, if the "nonrecourse clause" is revoked, then this will "far decadere la garanzia"

https://www.google.com/search?source=ig&hl=en&rlz=&=&q="nonr...

http://it.wikipedia.org/wiki/Legge_52/1991#Art._4_-_Garanzia...
Salvo che il cessionario (colui che acquista i crediti) vi rinunci, il credito è ceduto con la garanzia del cedente, entro i limiti di quanto incassato come pagamento del corrispettivo di cessione, sulla solvenza del debitore ceduto.

http://en.wikipedia.org/wiki/Factoring_(finance)
Third, a nonrecourse factor assumes the "credit risk", that a purchased account will not collect due solely to the financial inability of account debtor to pay.

James (Jim) Davis
Italy
Local time: 05:33
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1055
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