Glossary entry

Norwegian term or phrase:

risikogiver

English translation:

risk transferor

Added to glossary by dmesnier
Mar 6, 2022 19:09
2 yrs ago
9 viewers *
Norwegian term

risikogiver

Norwegian to English Bus/Financial Insurance counter guarantee
Hi - I'd like to verify the "risikogiver" is "risk carrier" in English (I can find absolutely no reference for it) or could it be another term. It appears as below. Thanks for your help!



Company AS, org.nr. 123 456 789 (heretter Kontragarantisten) stiller seg herved som selvskyldnerkausjonist overfor risikogiver ved XXXXXX AS, org.nr. NNNNNN (heretter SG) for samtlige forpliktelser med renter og omkostninger som risikogiver ved XX måtte bli påført i forbindelse med garantiforsikringer som stilles på vegne av Company AS, org.nr. 123 456 789.

Kontragarantisten skal løpende og uoppfordret informere risikogiver ved XX om forhold eller endringer av økonomisk og/eller selskapsrettslig karakter (inkludert fusjon, fisjon, salg av vesentlige eiendeler eller lignende disposisjoner).

Kontragarantisten skal videre på oppfordring fra risikogiver ved XX gi slik informasjon om forhold som nevnt over og andre forhold som risikogiver ved XX måtte anse av betydning for kontragarantistens oppfyllelse av sine forpliktelser overfor risikogiver ved XX eller avtaleforholdet for øvrig.
Proposed translations (English)
3 risk transferor

Discussion

Charles Ek Mar 6, 2022:
I understand that. But the description is a tad abstruse, which is what prompted my original comment.
dmesnier (asker) Mar 6, 2022:
Charles - this has to do with standard guarantee agreements for contractors, builders, subcontractors. No scary derivative implosions in the offing.
Charles Ek Mar 6, 2022:
This is why I thought it akin to the derivative shenanigans. I can’t quite figure out who is “passing the trash” here, as we used to say in the insurance biz.
dmesnier (asker) Mar 6, 2022:
Would the risk transferor "ved XXXXX AS" be "at XXXXX AS" (it's a guarantee insurance company. Or "for xxxxx AS". It's not clear. Thanks!
Charles Ek Mar 6, 2022:
Why do I think this is the prelude to another worldwide derivatives disaster? :-)

Let me chew on this a while and I'll get back to you.

Proposed translations

10 mins
Selected

risk transferor

See the link for this:
"The judgment supports the proposition that where

one party (“Risk Transferor”) faces the possibility of, say, an engineering product failing, or an engineering products purchaser failing to pay for or meet an order, which failure would be adverse to the Risk Transferor’s interests"
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4 KudoZ points awarded for this answer. Comment: "Thanks for your fine help!"
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