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police de préfinancement

English translation: first party pay policy

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:police de préfinancement
English translation:first party pay policy
Entered by: Conor McAuley

20:18 Mar 16, 2021
French to English translations [PRO]
Bus/Financial - Insurance / 10-year building insurance under French law
French term or phrase: police de préfinancement
Building to be constructed for the Contracting Authority (Maître d'Ouvrage), the business sector of which is not relevant (and confidential anyway).


"Une police DOMMAGES-OUVRAGE, souscrite par le Maître d’Ouvrage couvre tout dommage de nature décennale survenant au bâtiment dans les dix ans de sa construction.

C’est une ***police de préfinancement***."


Obviously the literal translation is straightforward.

Not in my insurance dictionary (SEP l'Assurance Française).

The term gets a mention towards the end of the selected entry here: https://www.proz.com/kudoz/french-to-english/construction-ci...
Conor McAuley
France
Local time: 21:03
first party pay policy
Explanation:
See discussion box - this seems to be the closest equivalent term
Selected response from:

Suzie Withers
United Kingdom
Local time: 20:03
Grading comment
Thanks Suzie and Cyril especially, thanks to all!

Also apologies for the delay with closing the question.

4 KudoZ points were awarded for this answer



Summary of answers provided
3 +2first party pay policy
Suzie Withers
3 +1policy/insurance provides pre(-)financing for
ph-b (X)
3bridging loan policy
Adrian MM.
4 -1an insurance predating the execution at the construction site
Francois Boye
3 -2pre-financing approach
David Hollywood


Discussion entries: 12





  

Answers


6 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): -2
pre-financing approach


Explanation:
maybe

--------------------------------------------------
Note added at 6 hrs (2021-03-17 02:39:02 GMT)
--------------------------------------------------

would cover literal too

David Hollywood
Local time: 16:03
Native speaker of: English
PRO pts in category: 16

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: can't mean "approach" in any shape or form - it can only be some kind of "insurance policy"
4 hrs
disagree  AllegroTrans: No, it's not that kind of policy, it's about insurance
7 hrs
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11 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
bridging loan policy


Explanation:
Hyphenate, if you will, to bridging-loan insurance-policy to highlight what 'la police' means.

I thought this was a general bridging loan scenario, rather than a 'long-stop latent structural damage' time limit or anything more complicated.


Example sentence(s):
  • Insurance claims on bridging loans on the rise
  • Bridging finance isn’t covered by Lenders Mortgage Insurance (LMI), a one off premium charged when borrowing more than 80% of the value of a property. That means you need around at least 20% of the peak debt as a deposit in order to buy the new property

    Reference: http://bridgingloandirectory.co.uk/insurance-claims-on-bridg...
Adrian MM.
Austria
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 24
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1 day 17 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -1
an insurance predating the execution at the construction site


Explanation:
Dans le cadre d’ un projet de construction d’ une maison ou d’ un immeuble, la phase de préfinancement apporte une solution au propriétaire pour débloquer les fonds au fur et à mesure de l’ avancement du chantier en remboursant le capital + les intérêts à l’ issue des travaux.


L’assurance dommages-ouvrage est une assurance obligatoire que doit souscrire tout maître d’ouvrage, notamment, le particulier qui fait construire sa maison ou procède à une rénovation importante (extension, surélévation, etc.). Cette assurance doit être souscrite avant l’ouverture du chantier (article L.242-1 du Code des assurances).


Francois Boye
United States
Local time: 15:03
Native speaker of: Native in FrenchFrench

Peer comments on this answer (and responses from the answerer)
neutral  Cyril Tollari: non plus
46 mins
  -> Je veux bien, mais le concept d'assurance dommages-ouvrage provient bel et bien de la France et non d'outre= Manche
disagree  AllegroTrans: "préfinancement" cannot be bent to mean "predating"
10 hrs
  -> "préfinancement means that financing starts after the execution at the construction site
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2 days 13 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
policy/insurance provides pre(-)financing for


Explanation:

C’est une police de préfinancement.
>
"This policy/insurance provides pre(-)financing for this type of damage*"
* refers to the type of damage just mentioned in the sentence.

I agree with "first party pay policy" (see discussion box) and will support it if it is posted as an answer. If, however, you prefer to stay close to the source text, this should work as well.

With this insurance [Inherent Defect Insurance], you are pre-financing the repair costs.
https://static1.squarespace.com/static/559921a3e4b02c1d7480f...

This insurance [Structural damage insurance] provides prefinancing for ten-year damage.
https://www.newslax.com/structural-damage-and-insurer-bankru...

...economic mechanisms such as insurance, which pre-finance the costs of reconstruction...
https://www.oas.org/cdmp/document/insuranc.htm


ph-b (X)
France
Local time: 21:03
Specializes in field
Native speaker of: French

Peer comments on this answer (and responses from the answerer)
agree  Cyril Tollari: A possibility. Not sure if this as straightforward as the French equivalent
13 hrs
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2 days 20 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +2
first party pay policy


Explanation:
See discussion box - this seems to be the closest equivalent term

Suzie Withers
United Kingdom
Local time: 20:03
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 4
Grading comment
Thanks Suzie and Cyril especially, thanks to all!

Also apologies for the delay with closing the question.

Peer comments on this answer (and responses from the answerer)
agree  ph-b (X): with the only reservation that the register is more technical than the source text, which, purely from a translation technique point of view, may not be adequate. But not a problem if specialist readers.
9 hrs
  -> Thanks ph-b -agree with your point on register .i think explanation may be needed in the target text
agree  Cyril Tollari: This is the most helpful answer
13 hrs
  -> Thank you, Cyril
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