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  3. Law: Contract(s)

Seriedad de la oferta

English translation: Reliability of bid

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:Seriedad de la oferta
English translation:Reliability of bid
Entered by: Matt Valentine

21:02 Jan 13, 2014
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / Insurance contract
Spanish term or phrase: Seriedad de la oferta
I'm translating a Columbian insurance policy from Spanish to English. One of the headings is "La seriedad de la oferta" and I am completely stumped on a good English translation for it. I know that "garantia de la seriedad de la oferta" is "bid bond", but that hasn't really helped me.

The description for what the "seriedad de oferta" constitutes is "Cubre los perjuicios ocasionados por el incumplimiento de las obligaciones del oferente consignadas en el pliego de condiciones", which I have translated as "This covers the damages resulting from the applicant failing to fulfill its obligations set out in the specifications".

Can anyone help me come up with a good English translation for this heading?
Matt Valentine
Norway
Local time: 07:05
Reliability of bid
Explanation:
In Latin America the term is widely used. I prefer reliability rather than seriousness, but the translation is rather literal. On the other hand, "garantía de seriedad de oferta" can also be translated as performance bond, so "seriedad de oferta" could also be translated as performance.
Selected response from:

Maria del Carmen Almeida
Ecuador
Local time: 00:05
Grading comment
Thanks :)
4 KudoZ points were awarded for this answer



Summary of answers provided
2 +3Bid security
Alejandro Alcaraz Sintes
4 +1Reliability of bid
Maria del Carmen Almeida


Discussion entries: 1





  

Answers


19 mins   confidence: Answerer confidence 2/5Answerer confidence 2/5 peer agreement (net): +3
Bid security


Explanation:
This is how it is translated in a Colombian governmental resolution: http://www.mineducacion.gov.co/1621/articles-319549_archivo_...
You'd need to check elsewhere, though.

Alejandro Alcaraz Sintes
Spain
Specializes in field
Native speaker of: Spanish
PRO pts in category: 137

Peer comments on this answer (and responses from the answerer)
agree  Pamela Avalos
1 hr
  -> Gracias, Pamela.
agree  patinba: Or in fact bid bond - the heading takes it as understood
1 day 2 hrs
  -> Gracias, patinba.
agree  Mike Yarnold (X)
1 day 6 hrs
  -> Thank you, Mike.
Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
Reliability of bid


Explanation:
In Latin America the term is widely used. I prefer reliability rather than seriousness, but the translation is rather literal. On the other hand, "garantía de seriedad de oferta" can also be translated as performance bond, so "seriedad de oferta" could also be translated as performance.

Maria del Carmen Almeida
Ecuador
Local time: 00:05
Works in field
Native speaker of: Spanish
PRO pts in category: 8
Grading comment
Thanks :)

Peer comments on this answer (and responses from the answerer)
agree  Maritza Andrade: total agree.
11 hrs
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