comfort letter

Hindi translation: चुकौती आश्वासन पत्र, आश्वासन पत्र

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:comfort letter
Hindi translation:चुकौती आश्वासन पत्र, आश्वासन पत्र
Entered by: Amar Nath

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13:31 May 13, 2009
English to Hindi translations [PRO]
Law/Patents - Law: Contract(s)
Additional field(s): Law (general)
English term or phrase: comfort letter
Definition from www.businessballs.com:
Document issued to back up an agreement but which does not have any contractual standing. They are often issued by a parent or associate company stating that the group will back up the position of a small company to improve its trading position. They always state that they are not intended to be legally binding. Also known as letters of comfort.

Example sentence(s):
  • You should never give that comfort letter to a seller until after you sign the contract. Why not? If, for example, you are negotiating the sales price, and the seller learns from the comfort letter that you can qualify for a higher purchase price than you are offering, the seller may not be so inclined to negotiate the sales price down. Realty Times
  • The appellants duly provided the comfort letter from their bank in the time specified and on 25 March the respondents confirmed that, subject to contract, they agreed to the sale of the property and the shares in the company to the appellants for £2m. Academic Answers
  • The presentation of a Full Corporate Offer (FCO) is always contingent to the presentation of the Buyer’s Letter of Intent (LOI) containing full banking coordinates and explicit authorization for soft probe. In addition the Buyer must present the Bank Comfort Letter (BCL). Four Seasons Asia Pacific Ltd.
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आश्वासन पत्र, चुकौती आश्वासन पत्र
Definition:
Comfort letters can be used by lenders, such as banks as solvency opinions on whether a borrower can meet the payment obligations of a loan. They are opinions and are not guarantees that the underlying company will actually remain solvent.
Selected response from:

Amar Nath
India
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
5 +2आश्वासन पत्र, चुकौती आश्वासन पत्र
Amar Nath


Discussion entries: 4





  

Translations offered


30 days   confidence: Answerer confidence 5/5 peer agreement (net): +2
आश्वासन पत्र, चुकौती आश्वासन पत्र


Definition from Investopedia:
Comfort letters can be used by lenders, such as banks as solvency opinions on whether a borrower can meet the payment obligations of a loan. They are opinions and are not guarantees that the underlying company will actually remain solvent.

Example sentence(s):
  • बैठक में यह निर्णय लिया गया कि 11 वीं पंच वर्षीय योजना के दौरान शुरू होने वाली बिजली परियोजनाएं, जो वर्ष 2011-12 की अंतिम तिमाही तक कोयला निकालना शुरू कर देंगी, उनको प्राथमिकता के तौर पर वर्तमान वादानुसार तथा प्रस्तावित उत्पादन के आधार पर आश्वासन पत्र दिए जाएंगे। - mjunction,Hindi  

Explanation:
मूलत: यह एक प्रकार का आश्वासन पत्र ही है, जो उधार लेने वाले व्यक्ति या कम्पनी द्वारा ऋण चुकाने की क्षमता के विषय में बैंक द्वारा आश्वासन दिया जाता है। इसका प्रयोग वाह्य लेखापरीक्षकों द्वारा सांविधिक लेखापरीक्षा,विवरणियों और रिपोर्टों के सन्दर्भ में भी किया जाता है, जहाँ वे इस पत्र के माध्यम से यह आश्वासन देते हैं कि प्राथमिक रूप से जारी विवरणी या रिपोर्ट अंतिम (फाईनल) रूप से जारी होनेवाली विवरणी या रिपोर्ट से भिन्न नहीं होगा।
Amar Nath
India
Local time: 01:51
Native speaker of: Hindi
PRO pts in category: 4

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Sushan Harshe: “Comfort letter” and “letter of comfort” are the same in nature and function.
2 days 1 hr
  -> thanks Sushanji

Yes  Nandita Singh
4 days
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