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glavni obveznik

English translation: principal

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Croatian term or phrase:glavni obveznik (carina)
English translation:principal
Entered by: Davorka Grgic
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16:08 Nov 27, 2001
Croatian to English translations [PRO]
Croatian term or phrase: glavni obveznik
Carinska deklaracija. Osoba koja uvozi robu i koja je zastupana od strane neke carinske agencije.

Hvala svima unaprijed.

D.
Davorka Grgic
Local time: 00:26
PRINCIPAL
Explanation:
Davorka, the following is an excerpt from a Trade Compliance Handbook prepared on behalf of the US Customs Service. Unfortunately I am not familiar with the terminology used by the Britons.

A. Principal – This party must obtain a bond to ensure the payment of its obligations to Customs.
(Or as it was explained to by my better half the principal is the one who is ultimately responsible for the payment)

B.Surety – This party furnishes the bond. It is usually an insurance company approved by Customs. The surety agrees to pay the principals obligations (duties, taxes, penalties or liquidated damages) to Customs, should the principal default. The surety charges the principal a fee for this service.
(This might help you if you are looking for a name for these types of agencies)

C. Creditor – This party is paid by the surety if the principal defaults on its obligations. Customs is the creditor for all Customs bonds.


Selected response from:

IZIDA
Grading comment
Thank you for your intelligent, well-researched answer. It saved my translation. It is a privilege to have such a colleague.

The best of luck.

D.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3PRINCIPALIZIDA


  

Answers


2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
PRINCIPAL


Explanation:
Davorka, the following is an excerpt from a Trade Compliance Handbook prepared on behalf of the US Customs Service. Unfortunately I am not familiar with the terminology used by the Britons.

A. Principal – This party must obtain a bond to ensure the payment of its obligations to Customs.
(Or as it was explained to by my better half the principal is the one who is ultimately responsible for the payment)

B.Surety – This party furnishes the bond. It is usually an insurance company approved by Customs. The surety agrees to pay the principals obligations (duties, taxes, penalties or liquidated damages) to Customs, should the principal default. The surety charges the principal a fee for this service.
(This might help you if you are looking for a name for these types of agencies)

C. Creditor – This party is paid by the surety if the principal defaults on its obligations. Customs is the creditor for all Customs bonds.





    Trade Compliance Handbook-US Customs Service
IZIDA
PRO pts in pair: 4
Grading comment
Thank you for your intelligent, well-researched answer. It saved my translation. It is a privilege to have such a colleague.

The best of luck.

D.

Peer comments on this answer (and responses from the answerer)
agree  DanielaBB
4 hrs
  -> Thanks

agree  Nenija Hasanic: Principal - Osoba/Firma u cije ime i za ciji racun se roba ili usluga uvozi i koji u nacelu snosi troskove carinskih pristojbi i dazbina
7 hrs
  -> Thanks

agree  hrvaska
261 days
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