Sep 14, 2004 11:31
19 yrs ago
6 viewers *
English term
Italy
WRAP VERBIAGE
English
Bus/Financial
Finance (general)
These words appear in an aval signed by two bank officers. I enclose the whole page.
*****
AVAL
PER AVAL
(NAME AND SIGNATURES OF THE CONFIRMING BANK)
WRAP VERBIAGE TO BE ISSUED BY THE CONFIRMING BANK BY KTT
FOR BANK GUARANTEE NUMBER:
ON:
WE HEREBY ADD OUR CONFIFMATIONAND IRREVOCABLE UNDERTAKING TO MAKE PAYMENT WITHOUT PROTEST IN FULL AT OUR COUNTER (NAME & ADDRESSO OF THE CONFIRMING BANK) WHEN THE GUARANTEE IS PRESENTED TO US.
THIS CONFIRMAION IS MADE IN ACCORDANCE WITH UNIFORM CUSTOMS AND PRACTICE FOR DOCUEMTNARI CREDITS.
SIGNED BY TWO AUTHORISED BANK OFFICERS.
****
Thanks in advance to everybody...
*****
AVAL
PER AVAL
(NAME AND SIGNATURES OF THE CONFIRMING BANK)
WRAP VERBIAGE TO BE ISSUED BY THE CONFIRMING BANK BY KTT
FOR BANK GUARANTEE NUMBER:
ON:
WE HEREBY ADD OUR CONFIFMATIONAND IRREVOCABLE UNDERTAKING TO MAKE PAYMENT WITHOUT PROTEST IN FULL AT OUR COUNTER (NAME & ADDRESSO OF THE CONFIRMING BANK) WHEN THE GUARANTEE IS PRESENTED TO US.
THIS CONFIRMAION IS MADE IN ACCORDANCE WITH UNIFORM CUSTOMS AND PRACTICE FOR DOCUEMTNARI CREDITS.
SIGNED BY TWO AUTHORISED BANK OFFICERS.
****
Thanks in advance to everybody...
Responses
| 4 | normally "wrap" = wrap up or concluding words |
CMJ_Trans (X)
|
| 5 | Text Format (words) to be used by the confirming bank |
Ramesh Madhavan
|
| 4 +1 | final wording |
Johanne Bouthillier
|
Responses
9 mins
Selected
normally "wrap" = wrap up or concluding words
verbiage = blah, blah , blah
So I suppose that each bank produces its own words to complete the document. If it were a letter it would be something like: We are sorry to be unable to accede to your request but hope that you will continue to place your faith in us in the future.
In other words, closing words that mean a lot of nothing!
So I suppose that each bank produces its own words to complete the document. If it were a letter it would be something like: We are sorry to be unable to accede to your request but hope that you will continue to place your faith in us in the future.
In other words, closing words that mean a lot of nothing!
4 KudoZ points awarded for this answer.
Comment: "Thank you very much to everybody!"
1 hr
Ramesh Madhavan
Native in English
&
English
Like Helping
Native in: English 
, Tamil
Works in: English, Tamil to English, Hindi to English, and 4 more.
Related KudoZ points
:
8
Text Format (words) to be used by the confirming bank
This is related to a Letter of Credit (LC), also called a “Documentary Letter of Credit” or simply, “Documentary Credit”. There are chances that the LC is not genuine and the bank, which is supposed to have opened it, does not even know about it! To make sure that the LC is genuine, it can be 'confirmed' by asking the bank which opened the LC. If they have not issued it, the fraud will be detected.
Here the receiver’s bank [asking bank] is asking the bank which opened the LC [opening bank] to ‘confirm’ the LC. In addition, to be absolutely clear, the asking bank is telling the opening bank what text or words should be used to confirm the LC. [Similar to asking your friend to whistle, if some one comes!]
Hope this helps:-)
Here the receiver’s bank [asking bank] is asking the bank which opened the LC [opening bank] to ‘confirm’ the LC. In addition, to be absolutely clear, the asking bank is telling the opening bank what text or words should be used to confirm the LC. [Similar to asking your friend to whistle, if some one comes!]
Hope this helps:-)
+1
2 hrs
Johanne Bouthillier
Canada
Canada
Works in field
Canada
English to Canadian French translator
Native in: French (Variant: Canadian)
Works in: English to French
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