pedir plazos, quitas y esperas

11:02 Nov 27, 2014
Spanish to English translations [PRO]
Law/Patents - Law: Patents, Trademarks, Copyright / Power of Attorney
Spanish term or phrase: pedir plazos, quitas y esperas
It is a power of attorney which mentions all the powers granted to the agent. One of these powers is this. No further context is provided.
Carl Bais

Summary of answers provided
5request terms, debt relief or debt payment extensions
Rebecca Jowers
4request terms, composition and forbearance



21 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
request terms, composition and forbearance

Composition with Creditors
A contract made by an insolvent or financially pressed debtor with two or more creditors in which the creditors agree to accept one specific partial payment of the total amount of their claims, which is to be divided pro rata among them in full satisfaction of their claims.

A composition with creditors is an agreement not only between the debtor and the creditors but also between the creditors themselves to accept less than what each is owed

Local time: 01:05
Native speaker of: Native in EnglishEnglish
PRO pts in category: 28
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8 hrs   confidence: Answerer confidence 5/5
request terms, debt relief or debt payment extensions

You may certainly word this otherwise, but “quita” is generally a synonym of “condonación (or) remisión parcial de la deuda” and when a debtor asks his creditor for a “quita” he is asking for “debt relief” or the “remission,” “cancellation” or “forgiveness” of a part of his debt. “Espera” refers to a “prórroga del plazo de vencimiento” and denotes an extensión of the term for paying a debt (“debt payment extensión”).

Note added at 8 hrs (2014-11-27 19:59:22 GMT)

In other respects, a "composition with creditors is generally known as "convenio con acreedores", at least in Spain.

Rebecca Jowers
Local time: 06:05
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Native speaker of: Native in EnglishEnglish
PRO pts in category: 104
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