Glossary entry

Italian term or phrase:

Coobbligazione per fidejussione assicurativa

English translation:

co-guarantor performance bond guarantee

Added to glossary by Eleanor Bargione
Jun 19, 2019 13:51
4 yrs ago
4 viewers *
Italian term

Coobbligazione per fidejussione assicurativa

Italian to English Bus/Financial Finance (general)
On a financial statement.

Coobbligazione per fidejussione assicurativa rilasciata da XXXXXX a favore della Provincia di XXXXX, a fronte dell'adempimento delle obbligazioni di XXXXXX a fronte della gestione post operativa della Vasca C - Settore 2 per l'importo di Euro 1,0milioni.

I can find all of the terms separately but I'm nto sure how to combine them correctly. My only guess so far is: joint surety bond insurance but I'm not sure if that's really right.

Proposed translations

3 mins
Selected

co-guarantor performance bond guarantee

I think I would say it like this.
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4 KudoZ points awarded for this answer.
47 mins
Italian term (edited): Coobbligazione per fidejussione assicurativa (rilasciata da ...)

Joint & several liability under a surety bond (issued by ... an ins. co. or bank)

rilasciata da XXXXXX - if the latter is an insurance company, rather than a bank, though it would help to know.
Example sentence:

Surety Bond: A three party agreement whereby one party (the surety) is bound with the person bonded (the principal) to a third party (the obligee). The bond guarantees the surety’s performance or monetary compensation to the obligee...

If the principal fails to perform the obligation stated in the bond, both the principal and the surety are liable on the bond, and their liability is joint and several'

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