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periodo de carencia

English translation: exclusion period

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:periodo de carencia
English translation:exclusion period
Entered by: Parrot
Options:
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10:09 Jul 17, 2002
Spanish to English translations [PRO]
Bus/Financial / MORTGAGE LOAN AGREEMENTS
Spanish term or phrase: periodo de carencia
In mortgage. This question actually comes from the French section as "période d'anticipation" and got the (translated) monolingual definition "period in which the repayment of the principal has not yet begun and only intercalating interests are paid". I fail to find the adequate English term.
Parrot
Spain
Local time: 23:11
exclusion period
Explanation:
I actually got this for "carencia" from my Oxford Spanish Dictionary. Have a look at the site below, which mentions exclusion periods in your context. This might work for you.
Selected response from:

Rowan Morrell
New Zealand
Local time: 09:11
Grading comment
thank you! This was already in our glossary but appeared in the context of insurance. Thanks for the confirmation.
4 KudoZ points were awarded for this answer

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Summary of answers provided
5 +2grace period
Сергей Лузан
4 +2exclusion periodRowan Morrell
5An after the fact commentPaul Slocomb


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
exclusion period


Explanation:
I actually got this for "carencia" from my Oxford Spanish Dictionary. Have a look at the site below, which mentions exclusion periods in your context. This might work for you.


    Reference: http://www.eliterelocations.co.uk/mortgages.htm
Rowan Morrell
New Zealand
Local time: 09:11
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 339
Grading comment
thank you! This was already in our glossary but appeared in the context of insurance. Thanks for the confirmation.

Peer comments on this answer (and responses from the answerer)
agree  xxxR.J.Chadwick: For a definition of exclusion period see: http://www.fadesa.es/att_cliente/diccionario.php3?idioma=1#t...
44 mins

agree  Alvaro Galindo
6 hrs
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20 mins   confidence: Answerer confidence 5/5 peer agreement (net): +2
grace period


Explanation:
Established term. I hope that helps.
Good luck, Cecilia Avanceña!
Re.: Russian-English Foreign Trade and Foreign Economic Dictionary, 1991, ISBN 5-200-01097-7 + my own experience (PhD in Econ)
Further references will follow below.

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Note added at 2002-07-17 10:31:19 (GMT)
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\"period of grace\" as well

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Note added at 2002-07-17 10:43:05 (GMT)
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I have a literal translation of \"(periodo de) carencia\" in Collins Spanish Dictionary, ISBN 0-00-470-295-6 from Spanish as \"period free of interest payments and debt repayments\", but it\'s not so frequiently used, I\'m afraid. Possible for contracts and agreements anyway.

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Note added at 2002-07-17 10:53:44 (GMT)
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There might be \"exemption (relief) from payments for some period of time\", but it usually relates to duties.

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Note added at 2002-07-17 10:56:17 (GMT)
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\"release from an obligation to pay-back/ payback obligation\" is even less used, but possible though.

Сергей Лузан
Russian Federation
Local time: 00:11
Native speaker of: Native in RussianRussian
PRO pts in pair: 450

Peer comments on this answer (and responses from the answerer)
agree  Alfonso Campos Folgado
18 mins
  -> Gracias por su amabilidad.

disagree  xxxR.J.Chadwick: Sorry to have to disagree with you -- I feel this is too general in the context of mortgages especially if the meaning is as the asker has specified -- in that case "exclusion period" would be correct.
32 mins
  -> I´d rather prefer "exemption" or even "relief". "Exclusion" version was already given above, so I could not repeat it. I´ve strong doubts about "exclusion period" anyway in this particular context.

agree  Nikki Graham: I agree with grace period
46 mins
  -> Gracias por su amabilidad. Thanx for your kindness.

agree  Lesley Clarke
1436 days
  -> Gracias por su amabilidad, Lesley. Thanx for your kindness as well. You've seen Paul's comment, haven't you?
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4 hrs   confidence: Answerer confidence 5/5
An after the fact comment


Explanation:
The chosen answer, "exclusion period", is just plain wrong in this context. "Grace period" is correct.

The web site cited in the chosen answer discusses mortgage insurance. The "exclusion period" is the initial term after contracting the insurance before it becomes effective. That isn't what's involved in this case at all.

It's true that "grace period" may describe a number of situations in addition to the one under consideration. E.g. if a mortgage payment is due on the 10th of the month, one may be given, for example, a 10 calendar day grace period. If so, the mortgagee is not in default if he/she pays by the 20th.

In this case, there's a grace period regarding payment of principal. For a specified period at the beginning of the mortgage term, the mortgagee is not in default if he/she pays interest only.

Paul Slocomb
Local time: 16:11
Native speaker of: English
PRO pts in pair: 351
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