contract de cautiune

English translation: guarantee agreement

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

Romanian term or phrase:	contract de cautiune
English translation:	guarantee agreement
Entered by:	Nina Iordache

16:44 Sep 14, 2007

Romanian to English translations [PRO]
Bus/Financial - Finance (general) / domeniu bancar

Romanian term or phrase: contract de cautiune

Obiectul contractului:

Prin prezentul contract, GARANTUL se obliga irevocabil si neconditionat sa garanteze obligatiile de plata ale DEBITORULUI fata de BANCA, rezultate din contractul de credit mentionat anterior, daca DEBITORUL nu isi va executa la scadenta contractuala obligatiile de plata catre BANCA rezultate din contractul de credit.

Nina Iordache KudoZ activity Questions: 1046 (none open) (31 without valid answers) (10 closed without grading) Answers: 984 Romania
Local time: 10:43

guarantee agreement

Explanation:
Domaine(s) : - droit

français

cautionnement n. m.
Équivalent(s) English guarantee

Définition :
Engagement pris par une personne envers une autre personne de satisfaire une obligation que cette dernière a contractée dans l'éventualité où elle ne la remplirait pas.

Sous-entrée(s) :
synonyme(s)
contrat de cautionnement n. m.
sûreté personnelle n. f.
garantie n. f.
GDT

Guarantee Agreement

This Guarantee Agreement, between a guarantor and a creditor, is used to encourage a creditor to extend credit to a third party ("the customer"). The guarantor guarantees the prompt payment of all sums due to the creditor by the customer. The liability of the guarantor may be unlimited or limited to a maximum amount. In the event of default by the customer, the agreement states that the creditor shall not be required to exhaust its remedies as against the customer prior to enforcing its rights under the guarantee against the guarantor. The agreement may be terminated by the guarantor by giving 14 days notice to the creditor.
http://www.clickdocs.co.uk/guarantee-agreement.htm

si alte exemple:
http://www.google.ca/search?hl=en&q=guarantee agreement, wha...

Selected response from:

Anca Nitu
Local time: 03:43

Grading comment

Multumesc frumos!
4 KudoZ points were awarded for this answer

Summary of answers provided

4 +2

surety / bail contract

Laszlo Kocsis

5 +1

cosigner agreement

Irina Adams

4 +1

guarantee agreement

Anca Nitu

contract of guarantee

Cristina Butas

Discussion entries: 1

Answers

10 mins confidence:

contract of guarantee

Explanation:
cred că la asta se referă
"A guarantee is a contract whereby one person agrees with another to pay some debt or perform some act or duty owed by a third person. This third person remains however primarily liable for such payment or performance and the person giving the guarantee will only become liable on the default of the third party."

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Note added at 11 minute (2007-09-14 16:55:23 GMT)
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http://iate.europa.eu/iatediff/FindTermsByLilId.do?lilId=136...

www.tanandtanlawyers.com/htm/guarantee.asp - 36k
Reference: http://iate.europa.eu/iatediff/SearchByQuery.do

Cristina Butas
Romania
Local time: 10:43
Specializes in field
Native speaker of:

Romanian
PRO pts in category: 4

Notes to answerer

Asker: MULTUMESC.

18 mins confidence:

peer agreement (net): +1

guarantee agreement

Anca Nitu
Local time: 03:43
Native speaker of:

Romanian
PRO pts in category: 196

Grading comment

Multumesc frumos!

Notes to answerer

Asker: Cred ca este the safer solution... multumesc!

1 hr confidence:

peer agreement (net): +2

surety / bail contract

Explanation:
As an alternative to already proposed solutions. It is a collateral contract implying personal guarantees, in contrast to material guarantees like a mortgage contract. Bail seems to be used more frecvently in criminal context.

Reference: http://www.sztaki.hu
Reference: http://www.wordreference.com

Laszlo Kocsis
Local time: 09:43
Specializes in field
Native speaker of:

Hungarian,

Romanian
PRO pts in category: 19

18 mins confidence:

peer agreement (net): +1

cosigner agreement

Explanation:
A consigner agreement is a contract in which a third party agrees to cover the payments of the party that is borrowing if the borrower fails or is unable to pay.

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Note added at 1 hr (2007-09-14 18:13:42 GMT)
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Sorry...here it is

Federal Trade Commission (FTC) adopted its Credit Practices Rule, effective March 1, 1985, pursuant to the authority granted the FTC under section 18(a)(1)(B) and section 5(a)(1) of the Federal Trade Commission Act (FTC Act), 15 USC 57a(a)(1)(B) and 15 USC 45(a)(1). Under this statute the FTC is authorized to promulgate rules that define and prevent "unfair or deceptive acts or practices" in or affecting commerce with respect to extensions of credit to consumers.

Section 227.13 Unfair credit contract provisions

Q13-1: Retroactive effect--bank's own contract. If a bank entered into a contract with a consumer prior to the effective date of the rule, and that contract contained a provision ultimately prohibited by the rule, may the bank enforce the provision?

A: Yes, the rule is not intended to have retroactive effect. (See, however, Q15-8.)

Q13-2: Retroactive effect--purchased paper written before effective date of rule. What happens if, after January 1, 1986, a bank buys paper from a third party that was written prior to the rule's effective date that contains a provision ultimately prohibited by the rule? May the bank enforce the provision?

A: Yes, the bank could enforce the provision since, at the time the paper was written, the provision was not prohibited.

Q13-3: Refinancings and renewals--original credit obligation entered into prior to effective date of rule. Assume that a bank entered into a credit obligation prior to the effective date of the rule and that the credit obligation contained a provision ultimately prohibited by the rule. Assume further that the credit obligation is refinanced after the effective date of the rule. May the refinanced obligation contain the prohibited provision, or is the refinancing subject to the rule? Does the same hold true for renewals of the original credit obligation?

A: A refinancing or renewal entered into after the effective date of the rule is subject to the rule and, therefore, may not contain a contract provision prohibited by the rule.

Q13-4: Open-end account--future advances made under the plan. If a bank entered into an open-end credit obligation with a consumer prior to the effective date of the rule and that agreement contained contract provisions ultimately prohibited by the rule, may the bank enforce those contract provisions as to future advances made under the plan after January 1, 1986?

A: Yes, contract provisions ultimately prohibited by the rule can be enforced in such a situation since the advances are being made as part of an open-end agreement that was entered into before the effective date of the rule, and the rule is not intended to have retroactive effect. (See, however, Q15-8.)

Q13-5: Prohibited provisions in cosigner agreement. May a bank include any of the provisions prohibited by the rule in the documents obligating a cosigner on a consumer credit obligation

You can find this at http://zentralbank.us/regulations/cg/crdtpracrul.htm

Reference: http://https://home.comcast.net/~johnhurlock/COSIGNERAGREEME...

Irina Adams
United States
Local time: 03:43
Works in field
Native speaker of:

English,

Romanian
PRO pts in category: 4

Notes to answerer

Asker: Sunt de acord cu Anca, asa este!

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English translation: guarantee agreement

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