liquidación de seguros

Discussion in 'Financial Terms' started by ian3, Jan 18, 2012.

  1. ian3 Member

    English - UK
    Translation into English of liquidación de seguros and por transacción, presunción legal o compromiso ?

    The context is an aircraft leasing contract and the relevant phrase (dealing with insurance) says: "Si la aeronave sufre un daño y dicho daño resulta en una liquidación de seguros sobre la base de una pérdida total actual o una pérdida total por transacción, presunción legal o compromiso; o ..."

    My effort is as follows: "In the event that the Aircraft suffers damage which gives rise to a liquidation of insurance on the grounds of actual total loss or total loss due to settlement, presumption of law or undertaking; or ..."

    I'm not sure about liquidation or settlement or undertaking in this context. Can anyone with insurance expertise do better?
  2. Ayutuxtepeque

    Ayutuxtepeque Moderador

    San Salvador, El Salvador
    Español salvadoreño
    Hola Ian3:

    ¡Bienvenido a nuestro Foro Financiero!

    The term "liquidación de seguros" is known in English as "insurance settlement". Please, see the following definition given below:

    As to ".....transacción, presunción legal o compromiso....", I'd say "....transaction, presumption of law or commitment....", however, let's wait for further opinions.:)

  3. ian3 Member

    English - UK
    Hola Ayutuxtepeque,

    Many thanks for your suggestions. I reckon insurance settlement is good, but transaction can't be right in the context of the loss of an aircraft - it's a false friend, isn't it? - it must have its legal meaning of compromise and settlement, I reckon.
  4. Ayutuxtepeque

    Ayutuxtepeque Moderador

    San Salvador, El Salvador
    Español salvadoreño
    No, it is not. I am not a lawyer, but in my opinion, the Spanish term "transacción", in a legal context, carries exactly the same meaning as its counterpart, "transaction", in the English language does.

    Please see the legal definition "transacción" (In Spanish):


    And now, take a look at the legal definition of "transaction" (In English):


    In my view, the terms "transacción" and "transaction" in a legal context, are not false friends.:)

  5. ian3 Member

    English - UK
    Well the RAE gives this definition:
    transacción. (Del lat. transactĭo, -ōnis).
    1. f. Acción y efecto de transigir. 2. f. Trato, convenio, negocio.

    and for transigir:
    2. tr. Ajustar algún punto dudoso o litigioso, conviniendo las partes voluntariamente en algún medio que componga y parta la diferencia de la disputa.

    which leads to my translation of compromise and settlement (or deal, in layman's terms)

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