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Glossary entry

French term or phrase:

nantissement

English translation:

collateral

Added to glossary by liz askew
Sep 23, 2010 19:31
13 yrs ago
23 viewers *
French term

nantissement

French to English Law/Patents Law: Contract(s)
I am translating a legal document regarding the provisions of subcontracting and am struggling with the following:

Lorsque l’entrepreneur envisage de sous-traiter une part du marché ayant fait l’objet d’un nantissement, l’acceptation des sous-traitants prevue à l’article 3 de la présente loi est subordonnée à une reduction du nantissement à concurrence de la part que l’entrepreneur se propose de sous-traiter.

Thank you
Proposed translations (English)
2 +3 collateral
3 +1 retainer / security deposit
4 collateral security
4 (used as) security
4 -1 collateral backing
References
Collateral warranties
Change log

Oct 7, 2010 06:53: liz askew Created KOG entry

Discussion

B D Finch Sep 24, 2010:
The point ... ...is that this provision is to protect a subcontractor from doing work and then not getting paid, because the main contractor had already used his expectation of payment on that part of the contract as collateral for a loan.
Fr-EnD Sep 24, 2010:
Perhaps simply "is the subject of a security" In which case the amount of the security would have to be reduced if some of the project is subcontracted out.
B D Finch Sep 23, 2010:
How it works This nantissement is effectively, borrowing against future earnings. The contractor is using the contract as security in raising money, possibly to fund operating expenses for the same contract. This can be dangerous in the event of a dispute over the contract performance, especially if the contract used as collateral forms too large a part of the contractor's order book.

What it is not, is a collateral security or collateral warranty, which is a warranty enforceable separately from the main contract, usually providing warranty cover for components or works by sub-contractors. A collateral warranty can be enforced against a person or company not party to the main contract.

Proposed translations

+3
16 mins
Selected

collateral

..

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Note added at 18 mins (2010-09-23 19:50:09 GMT)
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[PDF]
osborne 11-05.vp
File Format: PDF/Adobe Acrobat - Quick View
business plan. If this plan is agreed upon, the result could be a reduction in collateral from $18 million to $5 million. ...
agencycaptive.com/images/pdfs/osborne11-05.pdf

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Note added at 19 mins (2010-09-23 19:50:59 GMT)
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# [PDF]
Présentation sur le projet de Directive Réassurance Florence ...
- [ Translate this page ]
File Format: PDF/Adobe Acrobat - Quick View
Le système de nantissement (collateral) est la meilleure garantie contre le risque de défaut des réassureurs. C'est une règle prudentielle visant à la ...
www.europarl.europa.eu/comparl/econ/hearings/.../lustman_en... - Similar
#
nantissement - Dictionnaire Français-Anglais WordReference.com
- [ Translate this page ]
nantissement - Anglais Dictionnaire Français. ... nantissement, nm, collateral security. nantissement, nm, collateral. nantissement, nm, (juridique) law ...
www.wordreference.com/fren/nantissement - Cached - Similar
Peer comment(s):
agree philgoddard
38 mins
Thank you!
agree B D Finch
3 hrs
Thank you!
agree Gina W
6 days
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Selected automatically based on peer agreement."
+1
16 mins

retainer / security deposit

Something of the like. I don't think it's really a "pledge", which is the legal translation of the word.
Peer comment(s):
agree Adrian MM. (X) : assignable in this context
12 hrs
Something went wrong...
18 mins

collateral security

Collateral security, contracts. A separate obligation attached to another contract, to guaranty its performance. By this term is also meant the transfer of property or of other contracts to insure the performance of a principal engagement. The property or securities thus conveyed are also called collateral securities.
Reference:

http://www.lectlaw.com/def/c248.htm

Peer comment(s):
neutral B D Finch : I don't think the reference you give applies to construction contracts.
3 hrs
It apllies to any contract.
Something went wrong...
-1
2 hrs

collateral backing

I understand the term to be referring to aform of security offered to protect the main contractor from the effects of a possible breach of the terms of the contract by the subcontracting agent
Peer comment(s):
disagree B D Finch : The text clearly says that if he subcontracts he has to release that part of the contract from the "nantissement". So, it cannot be what you suggest in this case.
9 hrs
Something went wrong...
22 hrs

(used as) security

pledged, secured
Something went wrong...

Reference comments

3 hrs
Reference:

Collateral warranties

For a full discussion see "Winward Fearon on Collateral Warranties"
by David L. Cornes, Richard Winward

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Note added at 12 hrs (2010-09-24 08:08:33 GMT)
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As in note below to writeaway, the answer is definitely not "collateral warranty". I posted this to help prevent confusion with collateral warranties (which are very widely used in construction contracts), not to suggest it as an answer.
Reference:

http://books.google.co.uk/books?id=VlfOLdcQOowC&pg=PA1&lpg=PA1&dq=collateral+warranty+definition&source=bl&ots=t-Tnd8ln-o&sig=j2kZVPmQdY5yAD

Peer comments on this reference comment:
neutral writeaway : is it collateral warranty (your ref) or collateral (the answer you agreed with)?
1 hr
Definitely not "collateral warranty". This was just some information for anybody who thought it could be (as at least one answerer seemed to).
Something went wrong...
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