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Cleared for any flood insurance-related issues

Spanish translation: que se haya clarificado si necesitan seguro por inundacion

08:10 Sep 28, 2018
English to Spanish translations [PRO]
Finance (general)
English term or phrase: Cleared for any flood insurance-related issues
Hi there,

I'm translating a loan commitment letter and I'm struggling with the wording of the segment "cleared for any flood insurance-related issues" as shown below (last line):

FLOOD INSURANCE:
If the loan proposed herein is secured by real estate, it is subject to the Bank’s flood insurance procedures.
At least 10 business days prior to closing, the Bank must perform legally-required due diligence to determine whether or not any of the real estate proposed as collateral is located in a Special Flood Hazard Area.
If so, the Borrower will be required to provide flood insurance in accordance with instructions from the Bank.
Regardless of the outcome of the flood insurance determination, no closing agent is authorized to set a closing date (even on a preliminary basis) for a loan secured by real estate without direct confirmation from the Bank that all real estate proposed as collateral has been appropriately cleared for any flood insurance-related issues.

I'm not completely sure what they mean by "the collateral has been cleared for any flood insurance-related issues". My try: todos los bienes inmuebles propuestos como garantía prendaria han sido autorizados para estar sujetos a seguros de inundación. But it doesn't sound right.

Any ideas? thanks
oliviacasero89
United Kingdom
Spanish translation:que se haya clarificado si necesitan seguro por inundacion
Explanation:
I read it as that no one is allowed to close a loan without having a confirmation about whether an insurance against flood is compulsory.
The precise wording in Spanish can off courde be improved.
Selected response from:

Enrique Bjarne Strand Ferrer
Spain
Local time: 02:54
Grading comment
Selected automatically based on peer agreement.
4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2que se haya clarificado si necesitan seguro por inundacion
Enrique Bjarne Strand Ferrer
3[Al pie]
Mónica Algazi


  

Answers


1 hr   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
cleared for any flood insurance-related issues
que se haya clarificado si necesitan seguro por inundacion


Explanation:
I read it as that no one is allowed to close a loan without having a confirmation about whether an insurance against flood is compulsory.
The precise wording in Spanish can off courde be improved.


Enrique Bjarne Strand Ferrer
Spain
Local time: 02:54
Specializes in field
Native speaker of: Native in NorwegianNorwegian, Native in SpanishSpanish
PRO pts in category: 56
Grading comment
Selected automatically based on peer agreement.

Peer comments on this answer (and responses from the answerer)
agree  Juan Gil: De acuerdo. Quizás alguien con conocimiento de redacción legal pueda ofrecer una mejorada ('haya sido aceptada toda posible reclamación a la aseguradora que pueda ser producto de inundación').
2 hrs
agree  Luis M. Sosa: Strongly agree with the explanation. I would change the expression a little bit: "que se haya aprobado debidamente los problemas/aspectos del seguro de inundación"
3 hrs
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13 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
cleared for any flood insurance-related issues
[Al pie]


Explanation:
If the loan proposed herein is secured by real estate, it is subject to the Bank’s flood insurance procedures.
At least 10 business days prior to closing, the Bank must perform legally-required due diligence to determine whether or not any of the real estate proposed as collateral is located in a Special Flood Hazard Area.
Una posible redacción:
En tal caso, al Prestatario se le exigirá proveer seguro de inundación, según las instrucciones del Banco.
Sin perjuicio de lo que se determine respecto del seguro de inundación, ningún agente estará autorizado a fijar una fecha de cierre (aun en forma provisoria) para un préstamo garantizado por una propiedad, sin contar con la confirmación directa del Banco de haber realizado todas las gestiones pertinentes para que todo bien inmueble propuesto como garantía subsidiaria no plantee problemas en materia de seguro de inundación.

Mónica Algazi
Uruguay
Local time: 21:54
Native speaker of: Native in SpanishSpanish
PRO pts in category: 436
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