guarantee (banking)

The Spanish term 'aval bancario' translates to 'guarantee' in English, specifically within the context of banking. This refers to the legal promise by a bank to cover a liability in case the debtor fails to fulfill their financial obligations. In other words, an 'aval bancario' provides assurance that a debt will be paid, acting as a form of security for the creditor.

Example sentences using: aval (bancario)

El banco exigió un aval para garantizar el préstamo.

The bank required a guarantee to secure the loan.

This phrase illustrates a situation where a bank requests a guarantee, which can be an aval, to ensure that the loan will be paid back.

Mi amigo firmó un aval para ayudarme a obtener la hipoteca.

My friend signed a guarantee to help me obtain the mortgage.

In this example, the phrase describes how a friend supported someone in getting a mortgage by providing a guarantee.

Sin un aval, la institución financiera no puede aprobar la solicitud.

Without a guarantee, the financial institution cannot approve the application.

This phrase emphasizes the importance of having a guarantee for the approval of a financial application.