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mora automática

English translation: automatic default

11:33 Dec 19, 2000
Spanish to English translations [PRO]
Law/Patents
Spanish term or phrase: mora automática
One of the last clauses in an Argentine contract. It states: "Las Partes acuerdan la mora automática para el cumplimiento de todas sus obligaciones." Would this "mora automática" be an automatic delay in carrying out the contract? The only other time "mora" was used in the contract it obviously referred to defaulting on a payment schedule, but that (automatic default?) does not seem to fit here.

Thanks for the help.
Frank Johnson
United States
Local time: 02:09
English translation:automatic default
Explanation:
do you think it could mean "failure to comply will result in the non-complying party automatically being considered in default"?

If you'll forgive me, "Argentinean" loves to omit a word now and then.
Selected response from:

wendy griswold
Local time: 03:09
Grading comment
Thanks.
3 KudoZ points were awarded for this answer



Summary of answers provided
naautomatic default
wendy griswold
na"mora" is delay, but not necessarily default.
Parrot
naAutomatic delinquency
David Meléndez Tormen
naautomatic payment default
Alberto Orjuela
na"automatic payment default"
Ana Segura


  

Answers


28 mins
automatic default


Explanation:
do you think it could mean "failure to comply will result in the non-complying party automatically being considered in default"?

If you'll forgive me, "Argentinean" loves to omit a word now and then.

wendy griswold
Local time: 03:09
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 64
Grading comment
Thanks.
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1 hr
"mora" is delay, but not necessarily default.


Explanation:
Is it possible that in this contract there is a grace period agreed upon, with or without penalization? (Interests, etc.)
I say this because technically, "default" is more serious, implying "incumplimiento, rebeldía".
"Mora" as synonymous of "retrasos" could also be translated as "arrears".

Parrot
Spain
Local time: 09:09
Native speaker of: English
PRO pts in pair: 7645
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1 hr
Automatic delinquency


Explanation:
Mora: delinquency (in payment)

Diccionario Jurídico, Cabanellas y Hoaghe, Ed. Heliasta, Argentina, 1993

It seems that delinquency is a non-payment status prior to default and therefore it can be determined in an automated way. The definitions for both terms in the following glossary about loan(http://www.slfaloan.com/glossary.htm#09) seem to corroborate it.

Delinquency
Failure to make loan payments when due. Delinquency can lead to default.

Default
Failure to meet a financial obligation, such as a loan. Staying out of default will help protect a borrower's credit record.

DEFINITION IN SPANISH
Sistema de mora automática (*).- La mora se produce automáticamente por el mero vencimiento del plazo.

El fundamento de la mora automática para las obligaciones que tienen plazo determinado, radica en que el deudor conoce exactamente el momento en que debe cumplir la prestación, por lo tanto resulta innecesario supeditar la responsabilidad del deudor al cumplimiento de un requisito formal como es la interpelación.
(http://www.todoiure.com.ar/monografias/civil/La mora.htm)

SUERTE!




David Meléndez Tormen
Chile
Native speaker of: Native in SpanishSpanish
PRO pts in pair: 475
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3 hrs
automatic payment default


Explanation:
submitted by one of of our legal translators:
Experience since 1988. Free-Lance Translator of Official, technical, scientific,
business, legal and many other fields. Affiliated to the Ministry of Foreign Affairs. Foreign Embassies and Consulates, Government Offices. CENTRO COLOMBO AMERICANO, BAKER & McKENZIE, BANCO DE LA REPUBLICA, UNO, SUPREME COURT OF JUSTICE OF COLOMBIA, FISCALIA GENERAL DE LA NACION,THE BAVARIA HOLDING, OIL INDUSTRY, SHOW BUSINESS, OFICINA JUDICIAL, WETRANSLATE.COM, WCITIES,COM, LATIN AMERICAN BUSINESS CONSULTANTS (LABS), SERVITEL.



Alberto Orjuela
Colombia
Local time: 02:09
Native speaker of: Native in EnglishEnglish
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13 days
"automatic payment default"


Explanation:
The parts agreed the automatic payment default way.

The principle of "mora automática" means that the one who made the default carry on the responsability and will have to pay damages since the date stablished as a certain date of automatic payment default that is why it is of high importance identifying a certain time. Get it?
Hope could be of help.
BTW in argentine law you assume responsability since you are notified of the default, in the case of automatic payment default you do not need notification as it is understood you already know your obligation by the agreement already signed. Clear?


    Guillermo Borda - Derecho Civil
Ana Segura
United Kingdom
Local time: 08:09
PRO pts in pair: 11
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