Glossary entry (derived from question below)
Greek term or phrase:
Εκχώρηση
English translation:
Assignment
Added to glossary by
JULIAN VULLI (X)
Nov 17, 2013 07:47
10 yrs ago
2 viewers *
Greek term
Εκχώρηση
Greek to English
Bus/Financial
Insurance
Loan Security
I am dealing with a document entitled "Πρόσθετη Πράξη Εκχώρησης Ασφαλιστικής Αποζημίωσης" where the "Εκχωρητής" has signed an agreement whereby "εκχωρεί" or "ενεχυράζει" all claims arising out of a contract of insurance. Whilst understanding the meaning of the words, I wonder if there is a TECHNICAL translation of the term, or if anyone can refer me to a website which explains the concept.
Proposed translations
(English)
| 4 +5 | Assignment |
Dave Bindon
|
Proposed translations
+5
14 mins
Selected
Assignment
Εκχώρηση αποζημίωσης = assignment of indemnity (Χιωτάκης legal dictionary).
Peer comment(s):
| agree |
Peter Close
16 mins
|
| agree |
Constantine Kourakis
3 hrs
|
| agree |
Betty Revelioti
15 hrs
|
| agree |
Nadia-Anastasia Fahmi
1 day 38 mins
|
| agree |
transphy
1 day 23 hrs
|
4 KudoZ points awarded for this answer.
Comment: "Thanks Dave et alii. I had already come to the same conclusion myself."
Discussion
I've just realised that I didn't address your sub-question about the concept.
My understanding is this:
Say you want to have a building constructed and I'm a construction company. You are aware that my ability to perform the contract depends on my suppliers and my contracts with those suppliers. So, the contract between you (customer) and me (construction company) can insist that I take out an insurance policy in case my suppliers fail in some way, but the contract can also specify that I "assign" the insurance to you i.e. if my suppliers fail *you* get the insurance pay-out I've paid for.
Would that make sense in the context of what you're translating?