Dec 30, 2015 22:14
8 yrs ago
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French term

Délégation d’assurance

French to English Bus/Financial Law: Contract(s) Credit facility agreement with a bank
The context is a credit facility agreement between a bank and a client. The client must provide a guarantee either in the form of pledging assets or by "Délégation d’assurance donnée par acte séparé". Thanks

Discussion

rkillings Jan 9, 2016:
this question has come up before … and the same two answers were suggested back in 2009. IMO, better to be exact and stick with the civil-law term 'delegation' than to be only approximately correct and substitute 'assignment'. Delegation in this sense exists in Scotland but not so much in common law elsewhere in the Anglosphere. Handle it as you would naked ownership or usufruct, neither of which is easily forced into a common-law mould.

What is going on is not equivalent to common-law 'assignment', which requires only the consent of the assignor and the assignee. In a French civil-law delegation, the delegator delegates a *claim* on the delegatee along with the duties of performing an obligation (i.e., a debt) to a third party. Unlike in an assignment, all three parties have to consent to the arrangement. Unlike in a novation, there is no complete substitution of obligor if the
delegation is not perfected.

Proposed translations

+2
1 hr
Selected

assignment of insurance



http://www.businessdictionary.com/definition/assignment-of-i...

Transfer by the holder of a life insurance policy (the assignor) of the benefits or proceeds of the policy to a lender (the assignee), as a collateral for a loan. In the event of the death of the assignor, the assignee is paid first and the balance (if any) is paid to the policy's beneficiary.

Peer comment(s):

agree philgoddard
2 mins
agree Adrian MM. (X)
11 hrs
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4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
36 mins

Insurance delegation

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