BORGSTELLING
English translation: bond
| 14:33 Apr 14, 2015 |
| Dutch to English translations [PRO] Bus/Financial - Finance (general) / insurance | |||||
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|  Selected response from: Simon Geschwindt South Africa Local time: 05:40 | ||||
Grading comment
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| Summary of answers provided | ||||
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| 4 | security deposit; offering collateral |
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| 4 | GUARANTEE |
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| 3 | bond |
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| Summary of reference entries provided | |||
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| BORGSTELLING (take your pick) |
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| borgstelling (as used here) >> (contract) surety bond |
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| Discussion entries: 5 | |
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Answers
11 mins confidence: 
security deposit; offering collateral Explanation: Usual. |
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17 hrs confidence:
bond Explanation: I think you probably got it right with 'surety'; but 'bond' might be an alternative depending on the context |
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1 day 2 hrs confidence:
GUARANTEE Explanation: and use 'guarantees/warranties' |
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Reference comments
7 hrs peer agreement (net): +1 |
| Reference: BORGSTELLING (take your pick) Reference information: borgstelling suretyship guarantee surety borgstelling (bedrag) security deposit (document) contract of suretyship, surety agreement (overeenkomst) contract of suretyship, surety agreement (zaak) (zie: zekerheid) akte van borgstelling contract of suretyship hoofdelijke borgstelling joint and several surety tijdelijke invoer onder borgstelling temporary importation under bond maatschappij voor onderlinge borgstelling mutual surety company persoonlijke borgstelling personal security personal suretyship personal surety pledge borgstelling de (v.) 1 handeling suretyship context geld lenen onder borgstelling van onroerend goed borrow money with real property as security 2 geldsom security (money) (voornamelijk Brits-Engels) caution money context een borgstelling storten deposit a sum as security geld verstrekken tegen een borgstelling lend money on security 3 akte guarantee security / suretyship bond 4 (juridisch) bail context iemand vrijlaten onder borgstelling release someone on bail een ongeldige borgstelling a straw bail |
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3 days 20 hrs |
| Reference: borgstelling (as used here) >> (contract) surety bond Reference information: See also D-box entries. A surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract. The surety bond protects the obligee against losses resulting from the principal's failure to meet the obligation. (...) European surety bonds can be issued by banks and surety companies. If issued by banks they are called "Bank Guaranties" in English and Cautions in French, if issued by a surety company they are called surety / bonds. They pay out cash to the limit of guaranty in the event of the default of the Principal to uphold his obligations to the Obligee, without reference by the Obligee to the Principal and against the Obligee's sole verified statement of claim to the bank. Through a surety bond, the surety agrees to uphold — for the benefit of the obligee — the contractual promises (obligations) made by the principal if the principal fails to uphold its promises to the obligee. The contract is formed so as to induce the obligee to contract with the principal, i.e., to demonstrate the credibility of the principal and guaranty performance and completion per the terms of the agreement. The principal will pay a premium (usually annually) in exchange for the bonding company's financial strength to extend surety credit. In the event of a claim, the surety will investigate it. If it turns out to be a valid claim, the surety will pay and then turn to the principal for reimbursement of the amount paid on the claim and any legal fees incurred. http://en.wikipedia.org/wiki/Surety_bond Or in this case even more specifically contract bond or contract surety bond: A surety bond is designed to guarantee a principal’s integrity and honesty, performance and financial responsibility, as well as compliance with a law or contract. Nationwide is a respected surety bond company, providing quality surety bonding services for over 50 years. Our portfolio of surety bonds, including contract bonds, commercial bonds, court bonds and fidelity bonds has the flexibility to meet your business needs. http://www.nationwide.com/surety-bonds.jsp Contract bonds are used to guarantee that a contractor will abide by the specifications of a construction contract. A contract surety bond assures a project owner that a contractor will perform the work and pay specified subcontractors, laborers and material suppliers. Nationwide specializes in serving the needs of small to medium-sized contractors, such as electricians, carpenters, masons, plumbers, painters and landscapers. They are usually supported by bank lines of credit, pay their bills promptly and have good customer references. While we can consider contract bonding for contractors that do up to $5 million projects, a majority is much smaller. Contract bond types There are several types of contract bonds: Bid bonds guarantee that a contractor will enter into a contract, if awarded, and furnish such contract bonds as required by the terms of the contract Performance bonds guarantee faithful performance of the terms of a contract of construction or furnishing of supplies Payment bonds guarantee payment for labor and materials used in the work the contractor is obligated to perform under the terms of a contract Maintenance bonds guarantee against loss because of defective workmanship or materials used in the completion of a construction project http://www.nationwide.com/contract-bonds.jsp |
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