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|Spanish to English translations [PRO]|
|Spanish term or phrase: otorga prenda sin desplazamiento a favor de|
|En garantía del pago de los efectos pendientes de pago, (la sociedad del Grupo XXXXXXXX) otorga prenda sin desplazamiento a favor de XXXXXX sobre [el número de alevines cuyo valor a precio de mercado coincida con el volumen anual de pienso que se prevé que la sociedad del grupo Timar firmante del contrato adquiera|
|issues non-transferrable collateral|
This is a guarantee or security on any property, real or personal, even over a harvest, which precludes the conveyance of the property pledged.
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Local time: 22:06
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... grants the right of ownership upon default to ...
"Prenda sin desplazamiento" refers to a loan guarantee and underlying property rights. A "prenda sin desplazamiento" is a loan-contract which allows the borrower to actually own the underlying property (mostly the case in mortgages). In some cases, if somebody lends you money, the property actually will be owned by the one lending the money (in which case it would be "prenda con desplazamiento".
Hence, "a favor de", simply means "to".
Local time: 22:06
Native speaker of: Bulgarian
PRO pts in pair: 20
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grants a chattel mortgage in favor of
To secure payment of the outstanding items/drafts [depending on context], company X grants a chattel mortgage in favor of x on....
Tom West's S>E Dictionary of Law and Business
20 years' experience in financial translation
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