Oct 17, 2007 22:11
16 yrs ago
1 viewer *
German term

Patronatsvereinbarung

German to English Law/Patents Finance (general)
It's the title of an agreement, in which the parent company seems to be providing a guarantee for the creditors of its subsidiary, which is in financial difficulty. I think it is related to "Patronatserklaerung" (letter of comfort).
Proposed translations (English)
5 +2 Letter of comfort or comfort letter
Change log

Oct 17, 2007 23:03: Marcus Malabad changed "Level" from "Non-PRO" to "PRO"

Votes to reclassify question as PRO/non-PRO:

PRO (1): DDM

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Discussion

silvia glatzhofer Oct 18, 2007:
yes, Maria, you are right - it's a parent company's guarantee for its subsidiary - letter of comfort, letter of support,

Proposed translations

+2
8 hrs
Selected

Letter of comfort or comfort letter

These are generally issued to banks, but can also be issued within a group.

JP Morgan glossary:
"Letter of Comfort
A letter issued to a lending institution by a parent company acknowledging the approval of a subsidiary company's attempt for financing."
Peer comment(s):

agree Steffen Walter
7 mins
agree RobinB
1 hr
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
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