Glossary entry (derived from question below)
French term or phrase:
constitue un cautionnement auprès de
English translation:
establish or take out a guarantee/surety bond with
Added to glossary by
Catherine Gorton
Aug 19, 2008 17:00
15 yrs ago
3 viewers *
French term
constitue un cautionnement auprès de
French to English
Bus/Financial
Business/Commerce (general)
French law (contracts)
Hi I think I get the idea of "constitue un cautionnement auprès de" but I don't know how to put it in English properly. As I understand it from the text below, the contractor has to guarantee to his subcontractor payment for his work and the bank is guarantor. Here is the text:
« Le titulaire du contrat de partenariat ****constitue,**** à la demande de tout prestataire auquel il est fait appel pour l’exécution du contrat, ****un cautionnement auprès **** d’un organisme financier afin de garantir au prestataire qui en fait la demande le paiement des sommes dues. Ces prestations sont payées dans un délai fixé par voie réglementaire ; ».
Thanks!!!
« Le titulaire du contrat de partenariat ****constitue,**** à la demande de tout prestataire auquel il est fait appel pour l’exécution du contrat, ****un cautionnement auprès **** d’un organisme financier afin de garantir au prestataire qui en fait la demande le paiement des sommes dues. Ces prestations sont payées dans un délai fixé par voie réglementaire ; ».
Thanks!!!
Proposed translations
(English)
| 4 +1 | establish or take out a guarantee with |
canaria
|
| 4 +1 | post a bond |
joehlindsay
|
| 3 | is to act as security/would act as security to a financial institution |
MatthewLaSon
|
Change log
Aug 21, 2008 09:42: Catherine Gorton changed "Edited KOG entry" from "<a href="/profile/662276">Catherine Gorton's</a> old entry - "constitue un cautionnement auprès de"" to ""establish or take out a guarantee with""
Proposed translations
+1
1 min
Selected
establish or take out a guarantee with
or you could even say arrange a guarantee with
4 KudoZ points awarded for this answer.
Comment: "Hi everyone, thanks for all the suggestions! This is working best in my text I think. Thanks again everyone!"
3 hrs
is to act as security/would act as security to a financial institution
Hello,
This is how I'd say it . I know the French is using general present tense here, but I'm not so sure the corresponding English tense would work as well.
constitue = represents (acts as)
cautionnement = security/guarantee
aurpès de (here) = to
I hope this helps.
This is how I'd say it . I know the French is using general present tense here, but I'm not so sure the corresponding English tense would work as well.
constitue = represents (acts as)
cautionnement = security/guarantee
aurpès de (here) = to
I hope this helps.
+1
59 mins
post a bond
In the US we would say take out a bond, arrange a (performance) bond, it's the same thing as a guarantee, but the word used in the US for cautionnement is bond. There might be other language used in the UK for this.
I'll try to find references and UK usage.
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Note added at 1 hr (2008-08-19 18:11:52 GMT)
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There's an ad from a company that sells contractor bonds that kind of explains what they are at http://abbabonding.com/contractor_bonds.htm
It looks like the same terminology is used in the UK:
What is a surety bond?
A surety bond is a written undertaking by an insurance company (‘the surety’) guaranteeing a payment to the recipient of the bond (‘the beneficiary’) against a contractual default by your company (‘the principal’).
The surety guarantees to reimburse the beneficiary for any sustained losses suffered should the principal breach its obligations. A surety bond usually stays in force until the principal fulfils its obligations to the beneficiary.
from: aon.com/uk/en/risk_management/insurance/surety/guide.jsp
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Note added at 1 day2 hrs (2008-08-20 19:35:47 GMT)
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You might also add the adjective 'surety' to bond to be more specific, ie 'post' or 'obtain' a 'surety bond'.
Such bonds can be from banks (bank bond), insurance companies, or bonding companies whose only business is such bonds.
I'll try to find references and UK usage.
--------------------------------------------------
Note added at 1 hr (2008-08-19 18:11:52 GMT)
--------------------------------------------------
There's an ad from a company that sells contractor bonds that kind of explains what they are at http://abbabonding.com/contractor_bonds.htm
It looks like the same terminology is used in the UK:
What is a surety bond?
A surety bond is a written undertaking by an insurance company (‘the surety’) guaranteeing a payment to the recipient of the bond (‘the beneficiary’) against a contractual default by your company (‘the principal’).
The surety guarantees to reimburse the beneficiary for any sustained losses suffered should the principal breach its obligations. A surety bond usually stays in force until the principal fulfils its obligations to the beneficiary.
from: aon.com/uk/en/risk_management/insurance/surety/guide.jsp
--------------------------------------------------
Note added at 1 day2 hrs (2008-08-20 19:35:47 GMT)
--------------------------------------------------
You might also add the adjective 'surety' to bond to be more specific, ie 'post' or 'obtain' a 'surety bond'.
Such bonds can be from banks (bank bond), insurance companies, or bonding companies whose only business is such bonds.
Example sentence:
We got the contract to build the house but we were required to post a bond to guarantee that our subcontractors would be paid.
Note from asker:
| Hi I have added "surety bond" into the glossary. |
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