This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
engagement de non détention de fonds
PROP/INDIVIS
Jul 20, 2018 08:12
5 yrs ago
11 viewers *
French term

absence de garantie financière

French to English Bus/Financial Finance (general)
Hi,
This is a little blurb at the bottom of a letter from a bank, which also includes the registered capital, RCS number, phone and fax numbers, etc. It is preceded by "engagement de non détention de fonds" which will be in another question.
I believe it is a standard requirement today to include this on official correspondence.
Can someone provide a nice rendering in English?
Thank you.
Proposed translations (English)
3 +3 no financial guarantee
5 unavailability of financial guaranteed
4 absence/lack of financial guarantee/security
4 lack of collateral
References
It h

Discussion

Idna (asker) Jul 22, 2018:
Yes indeed, my bad, I didn't realize I was giving the wrong context, and should have included the bit that came before as well about the "carte professionelle.". Thanks Daryo, Finch and the others for your help.
Daryo Jul 21, 2018:
It maybe makes if more fun - like solving a more difficult puzzle- but giving the wrong context in not helping - leads just to wrong guessing.

the two terms asked "absence de garantie financière" and "engagement de non détention de fonds" show up together **ONLY and EXCLUSIVELY** in relation to "professionnel de 'immobilier" (estate agents, property managers etc) - no bankers to be seen anywhere nearby!

the applicable law

https://www.legifrance.gouv.fr/affichTexte.do?cidTexte=LEGIT...

and the easy to understand explanation:

https://www.galian.fr/fr/actualites/obligation-legale-daffic...
Mohamed Hosni Jul 21, 2018:

absence /unavailability of financial guarantee.
B D Finch Jul 21, 2018:
@Asker You say this is "a little blurb at the bottom of a letter". I wonder what you mean by a "blurb". Is it a footer? Does it relate to the bank itself or to a specific type of account? Is it actually a resumé of information the bank has about their client?
Daryo Jul 21, 2018:
you're right, doesn't sound like a bank at all a bank that's not holding any funds and giving no guaranty for the deposited money? That would be a very special bank ...

This letter might be from a bank but that bit doesn't sound AT ALL like being about the bank; without more context, it's only guessing.
philgoddard Jul 20, 2018:
Is this definitely a bank? Quite a few of the hits relate to real-estate companies.

Proposed translations

+3
6 hrs
Selected

no financial guarantee

I think that "absence" here would be translated in English by "no" because it's an unjudgemental statement of fact. "Absence" or "lack" would imply fault or failure, which I don't think is implied by "absence" in the French.
Peer comment(s):
agree Kevin Oheix
1 hr
Thanks Kevin
agree nweatherdon : this allows for the possibility of an insurance payment as a replacement for collateral. Your point about "absence" could be very relevant -- perhaps they do not lack collateral, but have decided to not pledge it in relation to the agreement or proposal
12 hrs
Thanks NJW
agree Daryo : after getting the context right (not thanks to the Asker!) turns out your hunch was right!
1 day 7 hrs
Thanks Daryo. Yes, it does help to have the right context!
Something went wrong...
4 KudoZ points awarded for this answer. Comment: "Thank you B D Finch and everyone for contributing!"
10 mins

absence/lack of financial guarantee/security

Peer comment(s):
agree writeaway : 100% literal translation. Hard to see what else it could possibly be, although finance is always good for surprises
3 hrs
Thanks, writeaway.
agree Kevin Oheix : Yes. "garantie" = obligation/agreement/promise. "Security" has to do with property/goods you would have to give in case of failure to pay money back.
4 hrs
Thanks, Kevin.
neutral philgoddard : But what does this mean, and would you say "absence of"? Could it be "not covered by the deposit guarantee scheme"?
5 hrs
neutral nweatherdon : phil: no, this definitely doesn't refer to government deposit guarantees. If the lender is not confident in the ability to repay, they may demand collateral that can be seized in case of non-repayment. This allows to make the loan, and/or at a lower rate.
18 hrs
disagree Daryo : "lack of financial security" ?? - you really think that it would be something to write home about - or to put on your letterhead?
19 hrs
disagree Steve Robbie : Almost certainly has nothing to do with banking per se - see the reference material I posted below
1 day 2 hrs
Something went wrong...
18 hrs

lack of collateral

This doesn't necessarily need to mean that it's a financial amount per se. It can also be assets that the lender can legally seize if payment terms are not satisfied.

The other answers seem OK, but potentially missing out on the possibility that the collateral comprising the financial guarantee may be an illiquid durable asset, and need not be insurance or some other explicitly financial asset.
Peer comment(s):
neutral Daryo : given the almost non-existent context, could be - but note very likely.
1 hr
neutral Steve Robbie : Very unlikely that this has to do with banking per se - see my reference comments below.
8 hrs
Something went wrong...
1 day 7 hrs

unavailability of financial guaranteed

absence /unavailability of financial guarantee.
Hope it helps.
Something went wrong...

Reference comments

7 hrs
Reference:

It h

Some banks seem to have a carte professionelle, e.g. https://www.neuflizeobc.fr/fr/images/Brochures/Rapport_RSE_2...

Generally, holders of a carte professionelle have to take out a financial guarantee with an insurer or a bank. However, they do not need that if they give an undertaking not to hold client money and state "non-détention de fonds" and "absence de garantie" on their business correspondence.
https://www.guichet-entreprises.fr/fr/fiches-activites/batim...

--------------------------------------------------
Note added at 7 hrs (2018-07-20 15:55:59 GMT)
--------------------------------------------------

It has to do with the carte professionelle (agent immobilier)
Note from asker:
Thank you Steve, the clues were right there but in my blind spot so to speak. I didn't give enough context, although I thought I did, and didn't dig deep enough before asking. Thanks for clearing things up.
Peer comments on this reference comment:
neutral Daryo : yours links are incomplete / non-working
11 hrs
https://www.neuflizeobc.fr/fr/images/Brochures/Rapport_RSE_2... https://www.guichet-entreprises.fr/fr/fiches-activites/batim...
Something went wrong...
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search