comfort letter

Finnish translation: tukikirje

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:comfort letter
Finnish translation:tukikirje

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13:31 May 13, 2009
English to Finnish translations [PRO]
Law/Patents - Law: Contract(s)
Additional field(s): Law (general)
English term or phrase: comfort letter
Definition from www.businessballs.com:
Document issued to back up an agreement but which does not have any contractual standing. They are often issued by a parent or associate company stating that the group will back up the position of a small company to improve its trading position. They always state that they are not intended to be legally binding. Also known as letters of comfort.

Example sentence(s):
  • You should never give that comfort letter to a seller until after you sign the contract. Why not? If, for example, you are negotiating the sales price, and the seller learns from the comfort letter that you can qualify for a higher purchase price than you are offering, the seller may not be so inclined to negotiate the sales price down. Realty Times
  • The appellants duly provided the comfort letter from their bank in the time specified and on 25 March the respondents confirmed that, subject to contract, they agreed to the sale of the property and the shares in the company to the appellants for £2m. Academic Answers
  • The presentation of a Full Corporate Offer (FCO) is always contingent to the presentation of the Buyer’s Letter of Intent (LOI) containing full banking coordinates and explicit authorization for soft probe. In addition the Buyer must present the Bank Comfort Letter (BCL). Four Seasons Asia Pacific Ltd.
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tukikirje
Definition:
Tukikirje (letter of comfort) on velkojalle vakuustarkoituksessa annettu asiakirja, jossa kirjeen antaja vakuuttaa tukevansa velallista. Usein dokumentti luovutetaan velkojalle takaussitoumuksen asemesta. Asiakirjan luovuttaja on tyypillisesti velallisyhtiön emoyhtiö.
Selected response from:

Jussi Rosti
Finland
Grading comment
4 KudoZ points were awarded for this answer



Summary of translations provided
4 +2tukikirje
Jussi Rosti
4hallinnollinen kirje
Riku Pepponen


  

Translations offered


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
tukikirje


Definition from Helsingin yliopisto, oikeust. tdk:
Tukikirje (letter of comfort) on velkojalle vakuustarkoituksessa annettu asiakirja, jossa kirjeen antaja vakuuttaa tukevansa velallista. Usein dokumentti luovutetaan velkojalle takaussitoumuksen asemesta. Asiakirjan luovuttaja on tyypillisesti velallisyhtiön emoyhtiö.

Example sentence(s):
Jussi Rosti
Finland
Local time: 17:19
Native speaker of: Native in FinnishFinnish
PRO pts in category: 35

Votes in favor of/against selecting this as the best translation of the term asked
Yes  Katja Jääskeläinen
26 days
  -> Kiitos, Katja!

Yes  Desmond O'Rourke: we learn every day
29 days
  -> Kiitos, Desmond!
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30 days   confidence: Answerer confidence 4/5Answerer confidence 4/5
hallinnollinen kirje


Definition from Kilpailuvirasto:
Letter of comfort = tukikirje
Comfort letter = Hallinnollinen kirje

Example sentence(s):
  • Hallinnollinen kirje ei kuitenkaan ole esteenä poikkeusluvan myöntämiselle vain kahdeksi vuodeksi, koska hallinnollisen kirjeen muodossa tehdyllä... - Finnish Competition Authority  
Riku Pepponen
Finland
Local time: 17:19
Native speaker of: Native in FinnishFinnish
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