Glossary entry

Spanish term or phrase:

SEGURO DE CUMPLIMIENTO A FAVOR DE PARTICULARES

English translation:

Contractual performance insurance

Added to glossary by Luis Vasquez
Feb 27, 2017 19:32
7 yrs ago
10 viewers *
Spanish term

SEGURO DE CUMPLIMIENTO A FAVOR DE PARTICULARES

Spanish to English Law/Patents Law: Contract(s) Insurance
Este es el nombre de un seguro que una compañia Colombiana de seguros ofrece a sus clientes. La pregunta es: esto seria el equivalente a : Third Party Liability Insurance en los Estados Unidos. El termino es el encabezado del primer parrafo del texto abajo indicado:


SEGUROS xxxx que en lo sucesivo se denominará xxxxx, compañía de seguros con domicilio en la ciudad de xxx, departamento xxx, república de Colombio, en consideración a la solicitud presentada por el TOMADOR y a lo consignado en los demás documentos suministrados por el mismo para el otorgamiento de la cobertura respectiva, los cuales se incorporan a este contrato para todos los efectos; y al pago de la prima convenida dentro de los términos establecidos para el mismo, otorga al ASEGURADO los amparos que se estipulan en la Sección I Coberturas, con sujeción a lo dispuesto en los límites de cobertura, términos y condiciones generales y particulares contenidos en la presente póliza y en la legislación colombiana aplicable a ésta

Gracias mil por su ayuda!

Proposed translations

+1
40 mins
Spanish term (edited): SEGURO DE CUMPLIMIENTO
Selected

Contractual performance insurance

helix2012form10k.htm - Securities and Exchange Commission
https://www.sec.gov/Archives/edgar/data/866829/.../helix2012...
These letters of credit primarily guarantee asset retirement obligations as well as various contract bidding, contractual performance, insurance activities and ...
AEG & CONRAD MURRAY EMAILS ~ LET'S CALL SPADE A SPADE
muzikfactorytwo.blogspot.com/2011/07/aeg-conrad-murray-emails.html
6 Jul 2011 - Loss-of-profit also called contractual performance insurance – had asked brokers at Lloyds to research. Intelligently, they also suggest it covers ...
Note from asker:
Many Thanks.I really appreciate your help.
Peer comment(s):

agree Robert Carter : Yes, insurance is not the same as surety (performance bonds).
6 hrs
thanks Robert
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thanks again. "
+2
43 mins

performance bond (in favour of private persons)


Performance bond - Wikipedia
https://en.wikipedia.org/wiki/Performance_bond
A performance bond , also known as a contract bond, is a surety bond issued by an insurance ... For example, a contractor may cause a performance bond to be issued in favor of a client for whom the contractor is constructing a building. ... of those who are bonded, they must have a clear picture of the individuals history.

Garantías contractuales: garantizá tus derechos - Santander Río
www.santanderrio.com.ar/banco/online/.../garantias-contract...

De sostenimiento de oferta (Bid Bond o Tender Bond); Del buen uso o devolución de anticipo (Refundment Bond); De Cumplimiento de contrato (Performance ...
garantía de cumplimiento de contrato > performance bond / guarantee
www.proz.com › KudoZ home › Spanish to English › Construction / Civil Engineering
Apr 26, 2007 - Contrato de fianza de fiel cumplimiento - performance bond . ... de fianza de fiel cumplimiento: performance bond [Insurance contract - Seguros ...
Peer comment(s):

agree Patricia Fierro, M. Sc.
2 hrs
Gracias Patricia!
agree Andy Watkinson
3 hrs
Thank you Andy!
neutral AllegroTrans : providing a performance bond and taking out an insurance are 2 different things; the ST clearly states insurance
14 hrs
Something went wrong...

Reference comments

9 mins
Reference:

A definition

A través del Seguro de Cumplimiento a favor de particulares, Aseguradora Solidaria de Colombia se compromete a indemnizar al asegurado o contratante, por los perjuicios derivados del incumplimiento de las obligaciones contractuales por parte del contratista afianzado por la compañía.

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Note added at 38 mins (2017-02-27 20:10:06 GMT)
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No this is not third party liability insurance (at least not here in UK).
Note from asker:
Thank you very much. I suppose now that it is third party liability insurance when contractors fail to meet their obligation.
Thanks a lot. You just prevented me from making a mistake.
Something went wrong...
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