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Spanish to English translations [PRO]
Finance (general) | | Spanish term or phrase: afianzada | Afianzada as a noun
AFIANZAN Y GARANTIZAN a CENTRO DE INVESTIGACIÓN Y DESARROLLO DE ALTA TECNOLOGICAS, S.L. , en los sucesivo la Afianzada, frente a ACME, SUCURSAL EN ESPAÑA , solidariamente con la Afianzada pero no entre sí y por hasta un 50% cada una, todas las obligaciones de pago contraídas por la Afianzada frente a ACME, SUCURSAL EN ESPAÑA en el Contrato de Arrendamiento Financiero celebrado en este acto.
Fiador is the "guarantor", but what is "the guaranteed party"? |
| MJ BarberKudoZ activityQuestions: 1409 ( 1 open) ( 21 without valid answers) ( 61 closed without grading) Answers: 1352
| | Local time: 08:54
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| | Some definitions | Explanation:
Some definitions.
“guarantee” does exist with this meaning, but in order to avoid confusions (so I believe) the most commonly used term is “guaranteed party”.
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Legal Dictionary
GUARANTEE, contracts. He to whom a guaranty is made.
2. The guarantee is entitled to receive payment, in the first place, from the debtor, and, secondly, from the guarantor. He must be careful not to give time beyond that stipulated in the original agreement, to the debtor, without the consent of the guarantor; the guarantee should, at the instance of the guarantor, bring an action against the principal for the recovery of the debt. 2 Johns. Oh. R. 554; 17 Johns. R. 384; 8 Serg. & Rawle, 116; 10 Serg. & Rawle, 33; 2 Bro. C. C. 579, 582; 2 Ves. jr. 542. But the mere omission of the guarantee to sue the principal debtor will not, in general, discharge the guarantor. 8 Serg. & Rawle, 112; 3 Yeates, R. 157; 6 Binn. R. 292, 300.
http://www.webster-dictionary.org/definition/Guarantee
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Legal Dictionary
GUARANTOR, contracts. He who makes a guaranty.
2. The guarantor is bound to fulfill the engagement he has entered into, provided the principal debtor does not. He is bound only to the extent that the debtor is, and any payment made by the latter, or release of him by the creditor, will operate as a release of the guarantor; 3 Penna. R. 19; or even if the guarantee should give time to the debtor beyond that contained in the agreement, or substitute a new agreement, or do any other act by which the guarantor's situation would be worse, the obligation of the latter would be discharged. Smith on Mer. Law, 285.
3. A guarantor differs from a surety in this, that the former cannot be sued until a failure on the part of the principal, when sued; while the latter may be sued at the same time with the principal. 10 Watts, 258.
http://www.webster-dictionary.org/definition/guarantor
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Bank guarantee: Undertaking given by a bank on behalf of a customer to pay the guaranteed party a sum of money if the customer cannot or will not pay. This should not be confused with the payment undertaking given under a letter of credit. - http://www.business-in-asia.com/glossary1.htm
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A contract surety bond is essentially a form of guaranteed performance. The bond instrument itself is an enforceable agreement whereby a surety guarantees to a party who contracts with a contractor (the guaranteed party being the "obligee"), that the contractor (the "principal") will perform his agreement with that party and that if the contractor does not fulfill the agreement, the surety will step in and do so in one form or another. Depending on the type of bond, the promise running from the surety to the obligee may also run to other parties, as intended beneficiaries, thereby giving them a direct right to sue and collect under the bond. These other parties or claimants may include subcontractors and material suppliers.- http://www.drewrysimmons.com/Pages/archives.html
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In July, ISDA issued comments on FASB's Proposed Statement of Financial Accounting Standards, Amendment of Statement 133 on Derivative Instruments and Hedging Activities addressing financial guarantees. ISDA's comments addressed the financial guarantee scope exception and expressed concern with the relationship between revised guidance and DIG Issue C7. Issue C7 is inconsistent with the new definition since it requires that the guarantee contract explicitly state that the guaranteed party has exposure to and the occurrence of a loss in order to qualify for the scope exception. The new definition of a financial guarantee, however, does not require the occurrence of a loss. - http://www.isda.org/wwa/fretro2002.html
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[PDF] COLLATERAL IN RURAL LOANS Rome October 1996
Formato de archivo: PDF/Adobe Acrobat - Versión en HTML
... party guarantee arrangement has been used even less than surety-backing by
... The guaranteed party can be the principal debtor or another guarantor; ...
www.fao.org/ag/ags/subjects/ en/ruralfinance/pdf/collateralreport_e.pdf - Páginas similares
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| Selected response from:
Manuel Cedeño Berrueta
Local time: 02:24
| Grading comment Thanks, Manuel. I agree that guarantee would be confusing. In this case, however, I got around it, by saying "hereinafter, the Debtor" and then using Debtor for Afianzada every time.
4 KudoZ points were awarded for this answer |
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| Discussion entries: 0 |
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Automatic update in 00:
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1 min confidence:  peer agreement (net): +6 bonded/guaranteed party
Explanation:
West
| Margarita Palatnik
Local time: 03:54
Specializes in field
Native speaker of:  Spanish
PRO pts in category: 607
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The translation workplace 
