Jul 9, 2015 17:45
8 yrs ago
5 viewers *
Spanish term

contra solo requerimiento

Spanish to English Law/Patents Law: Contract(s) Contract
Any help with this term?

El Vendedor con objeto de garantizar el cumplimento de sus obligaciones contractuales, entregará al momento de la suscripción del presente contrato, una Boleta Bancaria, otorgada por un banco comercial chileno o extranjero con sucursal en Chile, de la plaza, incondicional e irrevocable pagadera a la vista ***contra solo requerimiento***, a nombre de XXXX., por la suma equivalente al 7.5% del valor total del contrato, establecido en la cláusula segunda precedente.

To ensure the fulfilment of its contractual obligations, the Seller shall provide, at the time of signing of this agreement, an unconditional and irrevocable Bank Guarantee Bond, payable at sight ????, issued by a commercial Chilean or foreign bank with a local branch office in Chile, , on behalf of the XXXX., for the amount equivalent to 7.5% of the total value of the contract established in the preceding clause two.

Thanks!
Proposed translations (English)
5 +2 on sole/first demand

Proposed translations

+2
7 mins
Selected

on sole/first demand

.

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Note added at 11 mins (2015-07-09 17:57:11 GMT)
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or on simple demand

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Note added at 14 mins (2015-07-09 18:00:23 GMT)
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www2.deloitte.com/content/.../CY_Tax_TaxFacts2015EN_Noexp.pdf
1 Jan 2015 - (payable at sight on first demand or within 3 days from demand or sight). • Charterhire document. €18. • General power of attorney. €6. • Special ...

www.docstoc.com/.../Albertson's,-Inc.-Executive-Pensio...
25 Apr 2000 - Page 31 This Letter of Credit shall be payable at sight on first demand without prior notice being given to Albertson's by either you or us.



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Note added at 19 mins (2015-07-09 18:05:01 GMT)
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yes but I'd prefer

"payable at sight on simple demand"

It's not standard commercial language but I think the original is badly written. I would use this anyway

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Note added at 1 hr (2015-07-09 18:49:04 GMT)
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"payable at sight OR on simple demand"

would be more usual

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Note added at 1 hr (2015-07-09 18:51:44 GMT)
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boleta bancaria is simply a bank guarantee

La Boleta Bancaria de Garantía es una operación financiera en la cual un banco emite un documento (la boleta bancaria de garantía) con el objeto de caucionar determinadas obligaciones que una persona cualquiera, denominada cliente, contrae a favor de un tercero.
La obligación que garantiza el banco es la de su cliente para con un tercero y la caución opera facultando al beneficiario de la boleta bancaria para exigir su pago al banco a su solo requerimiento, cuando el tomador de la boleta no cumple la obligación asumida.

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Note added at 1 hr (2015-07-09 19:41:06 GMT)
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for

a la vista

you could also put

on presentation
Note from asker:
Thanks Billh - would you say "payable at sight on sole demand" ?
Peer comment(s):

agree philgoddard : Or "immediately on request".
1 hr
Yes thanx
agree patinba
1 hr
Thanx
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4 KudoZ points awarded for this answer. Comment: "Brilliant, thanks!"
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