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|Portuguese to English translations [Non-PRO]|
|Portuguese term or phrase: em penhor cedular|
|Também foram oferecidos em penhor cedular às operações de crédito rural.|
|English translation:as guarantee|
I'm not sure that the word "cedular" needs to be translated here. In three monolingual Brazilian legal dictionaries I haven't found the solution. I found "cedula de credito rural, "titulo civil, liquido e certo, constitutivo de promessa de pagamento em dinheiro, sem ou com garantia cedularmente constituida, sob as seguintes denominacoes e modalidades: cedular rural pignoraticia, dedula rural hipotecaria, e nota de credito rural. Seems to me that cedularmente constituida may mean the creditor is holding the actual notes or documents. This answer is probably of only limited help
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