póliza desdoblada

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11:14 Dec 2, 2016
This question was closed without grading. Reason: No acceptable answer

Spanish to English translations [PRO]
Law/Patents - Law (general) / Notarisation of purchase agreement
Spanish term or phrase: póliza desdoblada
Hi all,

I am currently translating notary documents concerning the sale of a company's assets and would appreciate assistance with the above in the following context:

CLASE DE OPERACIÓN: PÓLIZA DESDOBLADA DE EJERCICIO DE OPCIÓN DE COMPRA DE ACTIVOS

This appears at the start of the section, and straight afterwards the amount covered by the policy is shown, before a section in which the Notary Public attests to the veracity of the signatures of the parties concerned.

Many thanks in advance for any suggestions!

Darren
darrenthomps
Local time: 14:12


Summary of answers provided
3"split-signing" contract
Peter Leeflang
1split contract
John Cutler
Summary of reference entries provided
Findings
lorenab23
more findings
AllegroTrans

Discussion entries: 3





  

Answers


2 hrs   confidence: Answerer confidence 1/5Answerer confidence 1/5
split contract


Explanation:
I admit I'm guessing.

An explanation of póliza desdoblada:

Algo parecido está sucediendo con las pólizas, donde se están generalizando las pólizas desdobladas sistemáticas a voluntad de la entidad de crédito. Ante un notario comparecen los clientes y posteriormente, ante el Notario del banco, se firma en otro ejemplar por los representantes de la entidad de crédito. En cualquier caso, los honorarios de ambos notarios son de cargo del cliente y tradicionalmente se han repartido por mitad.

Resulta pues que el usuario, con suerte, sólo puede elegir a la “mitad” del notario, pero eso sí, debe soportar el coste de “todo el notario”. Puede negociar, dado que el arancel respecto de las pólizas es de máximos, pero sólo la mitad de los honorarios, el notario del banco evidentemente le repercutirá el coste íntegro. En efecto, es asesorado e informado por el notario de su confianza, pero éste no le puede dar seguridad de que la entidad de crédito consume la operación.

Then an abstract in English on the same subject:
From the author´s point of view, “split-contracts” cannot be positively considered. In his opinion, whenever a notary public grants them, he has the duty to expose the corresponding warnings and reservations.
“Shared intervention” was born in a historical moment and under specific circumstances that have little to do with the present but, up to certain point, justified its existence. Unfortunately, far from disappearing after the incorporation of business brokers in the body of Notaries Public, the system remained unchanged or became a “splitted contract system”. Both constitute round-about and complex proceedings, expensive and not very reliable.
Notaries have enough resources to solve the problems these complex types pose and to do it rightly and in a surer and cheaper way. To solve the abovementioned needs the spread of other options, like mandates or ratifications, would be advisable until the third paragraph of Section 197 of the Notarial Regulations becomes a simple historical curiosity.
http://www.elnotario.es/index.php/hemeroteca/revista-42/500-...



John Cutler
Spain
Local time: 15:12
Native speaker of: Native in EnglishEnglish
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
neutral  Peter Leeflang: Good guess. Close call. Here is an EN-ES investor glossary indicating the 'split' https://www.caixabank.com/deployedfiles/caixabank/Estaticos/... If indeed loan related, it is a loan insurance policy though.
1 hr
  -> With everyone's input, I hope Darren has a bit more to go on.
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5 days   confidence: Answerer confidence 3/5Answerer confidence 3/5
"split-signing" contract


Explanation:
This is the best I can can come up with for this unusual situation, to reflect the two or more different locations of the signers, based on the system used in the USA:




    Reference: http://www.notarypublicstamps.com/articles/summer-is-split-s...
Peter Leeflang
United States
Local time: 09:12
Specializes in field
Native speaker of: Native in DutchDutch, Native in EnglishEnglish
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Reference comments


15 hrs
Reference: Findings

Reference information:
2. El Reglamento Notarial, al regular brevemente el sistema de póliza desdoblada en su artículo 197.3, no resuelve ciertamente todas las dudas que pudieran plantearse en la práctica a la hora de acudir a él. La póliza desdoblada es una excepción al sistema de único ejemplar, puesto que existirán tantos ejemplares como notarios intervinientes, los cuales conservarán el ejemplar que hayan intervenido y a su vez cada notario puede efectuar una o varias intervenciones parciales. Uno de los requisitos de este sistema es que todos los ejemplares resultantes de ese desdoblamiento sean iguales. El artículo 197.3 viene a exigirlo cuando establece que cada uno de los ejemplares sea una «póliza completa».
http://www.boe.es/diario_boe/txt.php?id=BOE-A-2013-12956

lorenab23
United States
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 164
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5 days
Reference: more findings

Reference information:
http://www.notariosyregistradores.com/doctrina/ARTICULOS/pol...

AllegroTrans
United Kingdom
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1333
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