Glossary entry

English term or phrase:

Performance Guarantee Shortfall Notice

Arabic translation:

إخطار الإخلال بضمان/ كفالة حسن التنفيذ

Added to glossary by aya omar
Jan 9 11:29
4 mos ago
13 viewers *
English term

Performance Guarantee Shortfall Notice

English to Arabic Law/Patents Law (general)
8.1.1 The termination right set out in Clause 11.4.1 above shall not be applicable and shall be deemed to have been waived by the Owner if, subject to Clause 11.4.4, the Operator pays to the Owner within ninety (90) days of its receipt of the Owner’s Performance Guarantee Shortfall Notice, an amount equal to the shortfall between the actual achieved GOP and eighty percent (80)% of the budgeted GOP in the second of the two (2) Relevant Fiscal Years (the “Cure”).

Proposed translations

38 mins
Selected

إخطار الإخلال بضمان/ كفالة حسن التنفيذ

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4 KudoZ points awarded for this answer.
+1
18 mins

إخطار بالقصور في ضمان الأداء

Similar to a performance bond, which is "[...] issued to one party of a contract as a guarantee against the failure of the other party to meet the obligations of the contract.".
Peer comment(s):

agree Motaz Fahmy
1 hr
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4 days

إخطار بالتقصير بشأن ضمان حسن الأداء

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