Glossary entry

Spanish term or phrase:

extornándose la prima por prorrateo neto diario

English translation:

rebate will be assessed/calculated on a daily pro-rata basis

Added to glossary by EirTranslations
Jun 28, 2011 18:48
12 yrs ago
Spanish term

extornándose la prima por prorrateo neto diario

Spanish to English Law/Patents Ships, Sailing, Maritime Insurance for a boat/ship
Pls see below thanks

Si el buque es vendido o transferido a un nuevo propietario, o, cuando el buque sea propiedad de una compañía, se produce un cambio en el control del interés(es) de la misma, entonces, a menos que los aseguradores acuerden por escrito la continuación del seguro, éste quedará cancelado desde el momento de dicha venta, transferencia o cambio, extornándose la prima por prorrateo neto diario calculado sobre la prima cargada mientras el buque estuvo en servicio o inactivo.

Discussion

traductorchile Jun 28, 2011:
Prorrateo ¿How much are we going to get paid for this?

Proposed translations

1 hr
Selected

rebate will be assessed/calculated on a daily pro-rata basis

not sure but I think here in this context this is not a premium to be paid but a rebate of the premiums paid if the ship is sold or there is transferred ownership or there is any other change and this rebate will be calculated on a pro rata daily basis (based on whether the ship was in service or inactive, as premium would be different)

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Note added at 1 day17 hrs (2011-06-30 12:09:29 GMT) Post-grading
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glad to help
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4 KudoZ points awarded for this answer. Comment: "thx"
14 mins

premium shall be paid apportioned on a daily basis

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