Glossary entry (derived from question below)
Italian term or phrase:
Coobbligazione per fidejussione assicurativa
English translation:
co-guarantor performance bond guarantee
Italian term
Coobbligazione per fidejussione assicurativa
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.
4 | co-guarantor performance bond guarantee | Alison Kennedy |
2 | Joint & several liability under a surety bond (issued by ... an ins. co. or bank) | Adrian MM. |
Proposed translations
co-guarantor performance bond guarantee
Joint & several liability under a surety bond (issued by ... an ins. co. or bank)
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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