This site uses cookies. Some of these cookies are essential to the operation of the site, while others help to improve your experience by providing insights into how the site is being used. For more information, please see the ProZ.com privacy policy.
Cookie settings
  1. KudoZ™ Top
  2. Serbian to English
  3. Business/Commerce (general)

neopozivo ovlašćenje za realizaciju

English translation: irrevocable letter of authorisation to cash/realise the promissory note

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Serbian term or phrase:neopozivo ovlašćenje za realizaciju
English translation:irrevocable letter of authorisation to cash/realise the promissory note
Entered by: Bogdan Petrovic

21:17 Apr 3, 2014
Serbian to English translations [PRO]
Bus/Financial - Business/Commerce (general)
Serbian term or phrase: neopozivo ovlašćenje za realizaciju
KORISNIK se obavezuje da u momentu zaključenja Ugovora, preda na ime obezbeđenja jednu blanko solo menicu bez protesta sa neopozivim ovlašćenjem za realizaciju iste, kopiju rešenja o registraciji kod Agencije za privredne registre, kopiju evidencione prijave za PDV, kopiju lične karte vlasnika, kopiju OP obrasca i depo kartona za lice ovlašćeno za potpisivanje menice.
Bogdan Petrovic
Serbia
Local time: 03:24
irrevocable letter of authorisation to cash/realise the promissory note
Explanation:
a document specific to Serbian laws, not requested anywhere else where holding a promissory note is more than enough, the promissory note being being by definition "irrevocable" and in itself more than enough proof of the right to demand payment;

a sample: [http://www.euroturs.rs/aranzmani/2012/12/03-menicno-ovlascen...]

[http://www.aktivasistem.com/upload/documents/387f9c-Menica k...]

the most usual term is to "cash a promissory note" i.e. demand cash in exchange for the "promissory note" (as promised by the note)

more rarely used: "to realise" a promissory note:

DIGEST OF CASES. - HeinOnline
heinonlinebackup.com/hol-cgi-bin/get_pdf.cgi?handle=hein...39‎
a trustee in insolvency is entitled to realise a promissory note which the insolvent has pledged to a creditor. T, the holder of a promissory note, pledged the note ...
[http://heinonline.org/HOL/LandingPage?handle=hein.journals/s...]

--------------------------------------------------
Note added at 1 day1 hr (2014-04-04 22:53:00 GMT)
--------------------------------------------------

Asking for an additional "irrevocable letter of authorisation to cash/realise the promissory note" seems like rather redundant even when compared to the definition of what is a bill of exchange/a promissory note in Serbia:

Menica - Pismeni dokument, izdat u strogo zakonskoj formi, u kome se izdavalac (trasant) obavezuje da će u roku isplatiti određeni iznos, ili pak poziva drugo lice (trasata) da izvrši tu isplatu. Postoji više vrsta menica.
Jedna od njih je sopstvena - kada se izdavalac obavezuje da će sam izvršiti isplatu, dok je vučena ona kojom izvršilac poziva drugo lice, odnosno trasata da izvrši isplatu.
Blanko menica je neispunjen menični obrazac snabdeven potrebnim potpisima i zakonski može postati menica čim se ispune ostali bitni podaci. Blanko menica se upotrebljava za obezbeđenje zajma pojedinca ili organizacije - ako dužnik normalno otplaćuje zajam, pri izvršenoj potpunoj uplati blanko menica se vraća dužnicima. Ali ako dužnik prestane sa otplatama blanko menica se popunjava na ostatak duga, a dug se isplaćuje po meničnom postupku. Sve izjave u vezi sa menicom daju se napismeno i potpisano na menici, a svaki potpisnik na menici je i obaveznik.
[http://www.kamatica.com/pojam/menica]


--------------------------------------------------
Note added at 2 days10 hrs (2014-04-06 07:28:57 GMT)
--------------------------------------------------

and also compared with the standard definition of a promissory note:
"Definition of 'Promissory Note'

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date. A promissory note typically contains all the terms pertaining to the indebtedness by the issuer or maker to the note's payee, such as the amount, interest rate, maturity date, date and place of issuance, and issuer's signature. The 1930 international convention that governs promissory notes and bills of exchange also stipulates that the term “promissory note” should be inserted in the body of the instrument and should contain an unconditional promise to pay.

Investopedia explains 'Promissory Note'

Promissory notes lie somewhere between the informality of an IOU and the rigidity of a loan contract in terms of their legal enforceability. An IOU merely acknowledges that a debt exists, but does not include a specific promise to pay, as is the case with a promissory note. A loan contract, on the other hand, usually states the lender’s right to recourse – such as foreclosure – in the event of default by the borrower; such provisions are generally absent in a promissory note.

Promissory notes that are unconditional [neopozive] and saleable [prenosive] become negotiable instruments that are extensively used in business transactions in numerous countries.

A promissory note is usually held by the payee. Once the debt has been discharged, it must be cancelled by the payee and returned to the issuer."
Selected response from:

Daryo
United Kingdom
Local time: 02:24
Grading comment
Hvala!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +1irrevocable letter of authorisation to cash/realise the promissory note
Daryo
4irrevocable authorisation/consent to realize/fullfil
LogosART


  

Answers


40 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
irrevocable authorisation/consent to realize/fullfil


Explanation:
irrevocable authorisation/consent to realize/fullfil

http://www.secerana-crvenka.rs/2013/7. ugovor o kreditu i je...

irrevocable consent

Definition
An agreement that cannot be withdrawn or revoked.
http://www.investorwords.com/13468/irrevocable_consent.html#...


LogosART
Croatia
Local time: 03:24
Native speaker of: Dutch
PRO pts in category: 24

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: to "fullfil" a promissory note doesn't make any sense, especially as synonym for "the right to demand payment"- you can't just give a list of sensical AND nonsensical answers and let the asker guess which one is which.
12 hrs
  -> Disagree!
agree  bonafide1313: http://www.proz.com/kudoz/serbo_croat_to_english/finance_gen... ... mislim da se ovdje radi o istoj stvari
18 hrs
  -> Many thanks and greetings!
Login to enter a peer comment (or grade)

1 day 1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
irrevocable letter of authorisation to cash/realise the promissory note


Explanation:
a document specific to Serbian laws, not requested anywhere else where holding a promissory note is more than enough, the promissory note being being by definition "irrevocable" and in itself more than enough proof of the right to demand payment;

a sample: [http://www.euroturs.rs/aranzmani/2012/12/03-menicno-ovlascen...]

[http://www.aktivasistem.com/upload/documents/387f9c-Menica k...]

the most usual term is to "cash a promissory note" i.e. demand cash in exchange for the "promissory note" (as promised by the note)

more rarely used: "to realise" a promissory note:

DIGEST OF CASES. - HeinOnline
heinonlinebackup.com/hol-cgi-bin/get_pdf.cgi?handle=hein...39‎
a trustee in insolvency is entitled to realise a promissory note which the insolvent has pledged to a creditor. T, the holder of a promissory note, pledged the note ...
[http://heinonline.org/HOL/LandingPage?handle=hein.journals/s...]

--------------------------------------------------
Note added at 1 day1 hr (2014-04-04 22:53:00 GMT)
--------------------------------------------------

Asking for an additional "irrevocable letter of authorisation to cash/realise the promissory note" seems like rather redundant even when compared to the definition of what is a bill of exchange/a promissory note in Serbia:

Menica - Pismeni dokument, izdat u strogo zakonskoj formi, u kome se izdavalac (trasant) obavezuje da će u roku isplatiti određeni iznos, ili pak poziva drugo lice (trasata) da izvrši tu isplatu. Postoji više vrsta menica.
Jedna od njih je sopstvena - kada se izdavalac obavezuje da će sam izvršiti isplatu, dok je vučena ona kojom izvršilac poziva drugo lice, odnosno trasata da izvrši isplatu.
Blanko menica je neispunjen menični obrazac snabdeven potrebnim potpisima i zakonski može postati menica čim se ispune ostali bitni podaci. Blanko menica se upotrebljava za obezbeđenje zajma pojedinca ili organizacije - ako dužnik normalno otplaćuje zajam, pri izvršenoj potpunoj uplati blanko menica se vraća dužnicima. Ali ako dužnik prestane sa otplatama blanko menica se popunjava na ostatak duga, a dug se isplaćuje po meničnom postupku. Sve izjave u vezi sa menicom daju se napismeno i potpisano na menici, a svaki potpisnik na menici je i obaveznik.
[http://www.kamatica.com/pojam/menica]


--------------------------------------------------
Note added at 2 days10 hrs (2014-04-06 07:28:57 GMT)
--------------------------------------------------

and also compared with the standard definition of a promissory note:
"Definition of 'Promissory Note'

A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date. A promissory note typically contains all the terms pertaining to the indebtedness by the issuer or maker to the note's payee, such as the amount, interest rate, maturity date, date and place of issuance, and issuer's signature. The 1930 international convention that governs promissory notes and bills of exchange also stipulates that the term “promissory note” should be inserted in the body of the instrument and should contain an unconditional promise to pay.

Investopedia explains 'Promissory Note'

Promissory notes lie somewhere between the informality of an IOU and the rigidity of a loan contract in terms of their legal enforceability. An IOU merely acknowledges that a debt exists, but does not include a specific promise to pay, as is the case with a promissory note. A loan contract, on the other hand, usually states the lender’s right to recourse – such as foreclosure – in the event of default by the borrower; such provisions are generally absent in a promissory note.

Promissory notes that are unconditional [neopozive] and saleable [prenosive] become negotiable instruments that are extensively used in business transactions in numerous countries.

A promissory note is usually held by the payee. Once the debt has been discharged, it must be cancelled by the payee and returned to the issuer."


Daryo
United Kingdom
Local time: 02:24
Specializes in field
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 28
Grading comment
Hvala!

Peer comments on this answer (and responses from the answerer)
agree  bonafide1313: sa ovim se slažem, no mislim da nije trebalo da uklanjate svoj pređašnji odgovor jer je dobro ilustrovao važnost poznavanja ili shvatanja konteksta
1 day 2 hrs
  -> izgleda da ga ne mogu vratiti - Hvala!
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

Return to KudoZ list

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.

See also:
ProZ.com term search
Search millions of term translations
Close search
Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search