Glossary entry

Spanish term or phrase:

a que la afianzadora

English translation:

(and the Supplier undertakes) to ensure that the Guarantor (establishes)

Added to glossary by lbotto
Sep 6, 2012 03:41
11 yrs ago
5 viewers *
Spanish term

a que la afianzadora

Spanish to English Law/Patents Law (general) Supply Agreement
El Proveedor renuncia a lo establecido en los articulos NN y NN del Codigo Civil federal, obligandose el Proveedor a que la Afianzadora en la poliza de fianza correspondiente, establezca esta misma renuncia.

Proposed translations

+1
4 hrs
Selected

(and the Supplier undertakes) to ensure that the Guarantor (establishes)

As suggested in my answer to the previous question. "Afianzadora" could be "surety company" or "bonding company"; any of these expressions would be correct. A guarantor can be a (natural) person or an entity (a company); in this case it's the latter.

"A surety, surety bond or guaranty, in finance, is a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. The person or company that provides this promise, is also known as a surety or guarantor."
http://en.wikipedia.org/wiki/Surety

http://www.proz.com/kudoz/spanish_to_english/finance_general...

("Cause" is unidiomatic here, in my opinion. What this means is that the supplier assumes responsibility for the guarantor establishing the waiver; if the guarantor fails to establish the waiver, the supplier shall be in breach of this undertaking.)
Peer comment(s):

agree Eliza Ariadni Kalfa
8 hrs
Thanks, Eliza!
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thank you"
1 hr

The supplier undertaking to cause the bonding company...

... to establish this same waiver in the relevant bond policy.

Something along these lines.

Hope this helps you.

Something went wrong...
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search