Licensing and bonding requirements

Discussion in 'French-English Vocabulary / Vocabulaire Français-Anglais' started by VVE, Feb 12, 2008.

  1. VVE New Member

    France, french
    Hi,

    I came accross the "Licensing and bonding requirements" heading while reading a business plan template, but cannot clearly make out what those terms mean and how you would translate them in french. Any clues ?
     
  2. Old Novice

    Old Novice Senior Member

    Massachusetts
    USA, English
    Welcome, VVE.

    I can perhaps help with the meaning, but not the translation.

    Some businesses need licenses to operate. Restaurants and bars are good examples, because public safety is an issue if sanitary standards are violated or if people are served too much alcohol. "Bonding" would ordinarily refer to having arranged for access to cash to make good on any claims that might arise against the business. A company employing couriers who carried cash, for example, might need to "post a bond" to indemnify customers against losses due to theft.

    But the precise meaning of the terms in any given context will depend on the nature of the business.
     
  3. VVE New Member

    France, french
    Thank you for your fast answer !
    So, the bonding requirements are a basically provision made to cope with risks inherent to the business ? Is this a purely financial issue or do you know whether it could be another form of compliance to regulations (such as storing food products a the proper temperature to comply with health and safety regulations for a restaurant) ?
     
  4. Old Novice

    Old Novice Senior Member

    Massachusetts
    USA, English
    Sorry to be so slow to respond. As far as I know, bonding requirements are only financial, and they exist to protect others (e.g., customers), not the business itself. Business licences, on the other hand, may come with a number of restrictions attached, many or all non-financial.

    But I'm not an attorney, and there may be exceptions to the above.
     
  5. VVE New Member

    France, french
    Well, thank you for your help, I'll put it to good use !
     

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