09:14 Oct 14, 2013 |
Swedish to English translations [PRO] Bus/Financial - Insurance | |||||||
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| Selected response from: Mats Wiman Sweden Local time: 22:58 | ||||||
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Insatsgarantiförsäkring definition |
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Discussion entries: 2 | |
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housing cooperative investment guarantee Explanation: Insatsgaranti är en säkerhet för bostadsrättshavarna gällande insatser och upplåtelseavgifter som de betalat till bostadsrättsföreningen. Instead of "housing cooperative" you can use whatever translation you prefer for bostadsrättsförening. Reference: http://www.brim.se/sv/printpdf/produkter/insatsgarantiforsak... |
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housing cooperative payment bond Explanation: This is a surety bond, not insurance: "Insatsgarantiförsäkringen ombesörjd av Brim garanterar att bostadsrättsföreningen har fullgjort sin skyldighet att återbetala insatser eller upplåtelseavgifter enligt kap. 4 § 2 bostadsrättslagen." If you look at the act in question, it bars making a cooperative's units available for occupancy until payment to the contractor(s) has been secured, among other things: "Innan den slutliga kostnaden för föreningens hus har redovisats i en registrerad ekonomisk plan eller på en föreningsstämma, är det inte tillåtet att upplåta bostadslägenheter med bostadsrätt utan tillstånd av Bolagsverket. Bolagsverket skall lämna tillstånd om 1. en ekonomisk plan har registrerats och 2. föreningen ställt betryggande säkerhet hos Bolagsverket för återbetalning av insatsen till bostadsrättshavarna jämte, i förekommande fall, upplåtelseavgift." Ordinarily, a contractor would secure payment for itself by placing a lien on the property against the interest of the property owner. However, since the contractor's claim can pass through the cooperative structure and reach individual unit owners, a bond is necessary to protect the latter. See the second link for an explanation of payment bonds. Reference: http://www.brim.se/sv/printpdf/produkter/insatsgarantiforsak... Reference: http://www.attny.com/gci32djd.html |
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deposit guarantee insurance Explanation: insuring against losing the guarantee for the benefits that the deposit is intended to safeguard |
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Condominium deposit insurance Explanation: After a lot of searching, and not finding much comparable, I'll throw in this version from Canada, which seems to have a similar law to the Swedish Tenant-Ownership Act. The point is the 'insats' is a deposit by the individual purchase and the guarantee is so they get the deposit back. I'd also say 'condominium' is closer to the legal form of 'bostadsrätt'. Anyway, the Canadian reference below describes several insurance forms for condos including what looks like your term. And it differentiates from the developers bond that Charles suggests, tho he isn't far off either. http://www.theguarantee.com/en/products/details/developer-su... -------------------------------------------------- Note added at 7 hrs (2013-10-14 16:55:36 GMT) -------------------------------------------------- Here is some interesting reading from Sweden re: condominium -- http://www.bildabostad.se/Global/Broschyr.efter_EN.pdf |
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7 hrs |
Reference: Insatsgarantiförsäkring definition Reference information: Insatsgarantiförsäkring garanterar att bostadsrättsföreningen har fullgjort sin skyldighet att återbetala insatser eller upplåtelseavgifter enligt bostadsrättslagen -------------------------------------------------- Note added at 7 hrs (2013-10-14 17:09:25 GMT) -------------------------------------------------- http://www.forsakring.gar-bo.se/index.php/bostadsratter/insa... Reference: http://smhnyproduktion.se/projects/ordlista |
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