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Glossary entry

Spanish term or phrase:

constituir a la Compañía en aval

English translation:

to bind the Company as surety

Added to glossary by Ruth Ramsey
Oct 15, 2013 14:43
10 yrs ago
4 viewers *
Spanish term

constituir a la Compañía en aval

Spanish to English Law/Patents Law (general) Power of Attorney
Power of Attorney (Chile)

Does "aval" mean "endorser" here? If so, shouldn't it be "avalista"?

I'm translating "fiadora" as "guarantor" and "coedeudora solidaria" as "joint and several codebtor".

Thanks again for your help on this.

"... se requerirá la aprobación previa de los representantes de XXX para: (i) enajenar, gravar, ceder o transferir en cualquier forma, bienes raíces, propiedad minera y/o derechos de aguas de la Compañía; (ii) para **constituir a la Compañía en aval**, fiadora o codeudora solidaria..."
Proposed translations (English)
4 +1 to bind the Company as surety
4 to bind/make/constitute the company as guarantor
References
Previous question

Discussion

Ruth Ramsey (asker) Oct 15, 2013:
Hi Phil, I tried getting into your link but unfortunately it didn't seem to work.
Ruth Ramsey (asker) Oct 15, 2013:
Thanks José. I Googled the phrase (and similar) and it actually comes up with several hits. It does sound rather odd, I have to admit.
José Manuel Lozano Oct 15, 2013:
Como bien dice Ruth, creo que hay un error en el original y debería decir "avalista" y no "aval". La expresión "constituir a la compañía en aval" no tiene sentido en español. Se puede constituir a alguien (una empresa, en este caso) en avalista, pero no en aval.

Proposed translations

+1
23 mins
Selected

to bind the Company as surety

Surety
A surety or guaranty, in finance, is a promise by one party (the guarantor) to assume responsibility for the debt obligation of a borrower if that borrower defaults. The person or company that provides this promise, is also known as a surety or guarantor.
http://www.encyclo.co.uk/define/SURETY

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Note added at 6 hrs (2013-10-15 21:05:33 GMT)
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Becerra's legal dictionary:

aval - (n.) 1. third-party guarantee, absolute and unconditional guaranty, security for the payment of a negotiable instrument, joint and several obligation; in the law of negotiable instruments,

2. SURETY, guarantor. Joint obligor in a negotiable instrument.
Note from asker:
Or also, it perhaps could be "to stand surety as a guarantor", which would link it to the next part of the phrase "fiadora". This would perhaps explain why it's "aval" and not "avalista".
Peer comment(s):
agree Adrian MM. (X) : like the Spanish chameleon, surety is also both the security and the person: http://www.linguee.es/espanol-ingles/traduccion/constituir u...
5 hrs
Yes. Thanks, Tom.
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4 KudoZ points awarded for this answer. Comment: "Thanks Richard. This is what I went with in the end."
48 mins

to bind/make/constitute the company as guarantor

Another option since these are all synonymous terms. To bind, to make, to have, to constitute the company as guarantor, or cosigner.
Note from asker:
Thanks. Wouldn't "fiadora" be "guarantor"? If possible, I think I'd like to use separate words for "aval" and "fiadora".
Something went wrong...

Reference comments

14 mins
Reference:

Previous question

.
Reference:

http://www.proz.com/kudoz/spanish_to_english/management/1932158-aval_solidario.htmlhttp://

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