Good performance

English translation: performance guarantee

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Good performance
Selected answer:performance guarantee
Entered by: Lara Barnett

16:50 Oct 1, 2017
English language (monolingual) [PRO]
Law/Patents - Law: Contract(s) / Contract for works
English term or phrase: Good performance
I am trying to find a good alternative for this phrase, which literally translates as:

"guarantee of good performance of the contract", which the Contractor is obliged to provide to the Purchaser before the works can go ahead.
Lara Barnett
United Kingdom
Local time: 17:18
performance guarantee
Explanation:
Having read the discussion entries, I think people are straining at a gnat here. As far as I can tell from the Romanian context posted, this is all it is: a bog-standard contractual clause by which the contractor undertakes to provide a performance guarantee. "Good" is redundant; if the contract is performed, that's good enough.

Many examples are quoted here; the following is particularly relevant to your context:

Performance Guarantee. Upon signing this CONTRACT, the BUYER shall provide the BUILDER with an irrevocable and Corporate Guarantee pursuant to the Terms and Provisions of this Contract issued by a Corporate Guarantor acceptable to the BUILDER for the due and faithful performance by the BUYER of all its liabilities and responsibilities under the CONTRACT including, but not limited to, the payment of the CONTRACT PRICE and taking delivery of the VESSEL, in the form annexed hereto"
https://www.lawinsider.com/clause/performance-guarantee

--------------------------------------------------
Note added at 1 hr (2017-10-01 18:47:25 GMT)
--------------------------------------------------

It's also called a "performance bond", and the clause can be called a performance bond clause:
https://www.lawinsider.com/clause/performance-bond

Take your pick; either would do.

--------------------------------------------------
Note added at 2 hrs (2017-10-01 18:54:44 GMT)
--------------------------------------------------

In other words, what I'm saying is that you should translate the title of the clause simply as performance guarantee or performance bond, and use the same term for "garantia de buna executie" in the text of the clause.
Selected response from:

Charles Davis
Spain
Local time: 18:18
Grading comment
Thank you.
4 KudoZ points were awarded for this answer



SUMMARY OF ALL EXPLANATIONS PROVIDED
4 +4performance guarantee
Charles Davis
3 +1due performance
mike23
4completion (bond)
AllegroTrans
4Performance bond
Morad Seif


Discussion entries: 22





  

Answers


1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +4
good performance
performance guarantee


Explanation:
Having read the discussion entries, I think people are straining at a gnat here. As far as I can tell from the Romanian context posted, this is all it is: a bog-standard contractual clause by which the contractor undertakes to provide a performance guarantee. "Good" is redundant; if the contract is performed, that's good enough.

Many examples are quoted here; the following is particularly relevant to your context:

Performance Guarantee. Upon signing this CONTRACT, the BUYER shall provide the BUILDER with an irrevocable and Corporate Guarantee pursuant to the Terms and Provisions of this Contract issued by a Corporate Guarantor acceptable to the BUILDER for the due and faithful performance by the BUYER of all its liabilities and responsibilities under the CONTRACT including, but not limited to, the payment of the CONTRACT PRICE and taking delivery of the VESSEL, in the form annexed hereto"
https://www.lawinsider.com/clause/performance-guarantee

--------------------------------------------------
Note added at 1 hr (2017-10-01 18:47:25 GMT)
--------------------------------------------------

It's also called a "performance bond", and the clause can be called a performance bond clause:
https://www.lawinsider.com/clause/performance-bond

Take your pick; either would do.

--------------------------------------------------
Note added at 2 hrs (2017-10-01 18:54:44 GMT)
--------------------------------------------------

In other words, what I'm saying is that you should translate the title of the clause simply as performance guarantee or performance bond, and use the same term for "garantia de buna executie" in the text of the clause.

Charles Davis
Spain
Local time: 18:18
Native speaker of: Native in EnglishEnglish
PRO pts in category: 72
Grading comment
Thank you.
Notes to answerer
Asker: Thanks.


Peer comments on this answer (and responses from the answerer)
agree  philgoddard
1 hr
  -> Thanks, Phil :)

neutral  Daryo: yes, it's a variant that is also used, but there is nothing wrong in stating explicitely that only good/due performance of the contract will get you your money back, especially when it's the way the ST is worded!
2 hrs
  -> "Good" is just conventional rhetoric. Either the contract is performed or it isn't. To include "good/due/proper" is to imply, wrongly, that beyond performance some unmeasurable standard of goodness must be met or the bond is forfeit. This cannot be true.

agree  Björn Vrooman: If I read this right-- http://anap.gov.ro/web/garantia-de-buna-executie/ and https://legestart.ro/garantia-de-buna-conduita-la-ofertele-d... --it's about obtaining a bond/guarantee. Note of caution, though (see edit in d-box).
20 hrs
  -> Thank you very much, Björn :)

agree  acetran
7 days
  -> Thanks, acetran :)

agree  Ksenija Stanković: Flows nicely and conveys the meaning required
8 days
  -> Thank you, Ksenija :)
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
good performance
completion (bond)


Explanation:
Now that we have the Romanian source text, I am able to see the sentence construction. Like Charles I have no knowledge of Romanian law so have based my answer on what I know of civil law systems, especially France.

"Bonne exécution" does not translate well to "good performamnce" and I agree with others that "good" is far too indeterminate an adjective, indeed no adjective is needed. The essential feature of this "guarantee" (which in practice is achieved by a bond - a deposit of money in a financial institution) is that it is aguarantee of "completion" of the contract, i.e. in accordance with the contractor's obligations.

Needless to say, "completion" is also open to a degree of interpretation, but as far as I can see it's the usual term employed in English for these bonds.



Completion Bond - Investopedia
www.investopedia.com/terms/c/completion-bond.asp
A financial contract that insures a given project will be completed even if the producer runs out of money, or any measure of financial or other impediment occurs during the production of the project. Completion bonds are used in many industries, including major films and construction projects.


Définition de Garantie d'exécution de contrat. Garantie internationale qui engage la banque à payer une somme forfaitaire en cas de manquement du vendeur à ses obligations contractuelles (livraison, montage...). ... Cette garantie est également appelée garantie "de bonne fin" ou "de bonne exécution".
définition de garantie d'exécution de contrat - Glossaire international
https://www.glossaire-international.com/pages/tous.../garant...

--------------------------------------------------
Note added at 5 hrs (2017-10-01 22:17:48 GMT)
--------------------------------------------------


Completion bond financial definition of completion bond
financial-dictionary.thefreedictionary.com/completion+bond
A loan guarantee that a project will be paid for even if it is abandoned. Producers or publishers will make this guarantee to a bank in order to secure loans to ...


Completion Bond Definition from Financial Times Lexicon
lexicon.ft.com/Term?term=completion-bond
Definition of completion bond. An insurance agreement that provides insurance against the risk that a project, for example a film or a property development, will ...


What is completion bond? definition and meaning ...
www.businessdictionary.com/definition/completion-bond.html
Definition of completion bond: An investment fund set up for individuals or corporations that have set schedules to finish projects but may not have enough funds ...

AllegroTrans
United Kingdom
Local time: 17:18
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 28
Notes to answerer
Asker: Thank you for all information.

Login to enter a peer comment (or grade)

7 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
good performance
Performance bond


Explanation:
"Performance bond" also known as "contract bond".



    https://en.wikipedia.org/wiki/Performance_bond
    Reference: http://www.investopedia.com/terms/p/performancebond.asp
Morad Seif
Iran
Local time: 20:48
Native speaker of: Persian (Farsi)
PRO pts in category: 4
Notes to answerer
Asker: Thank you.

Login to enter a peer comment (or grade)

3 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5 peer agreement (net): +1
good performance
due performance


Explanation:
a guarantee of due performance of the contract

If you are looking for an alternative to the phrase, 'due performance' might be one. Otherwise, Charles's answer is linguistically economical.

https://www.google.co.uk/search?source=hp&q="guarantee of du...

--------------------------------------------------
Note added at 15 hrs (2017-10-02 07:52:17 GMT)
--------------------------------------------------

Uniform Commercial Code

§ 2-609. Right to Adequate Assurance of Performance.

(1) A contract for sale imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. When reasonable grounds for insecurity arise with respect to the performance of either party the other may in writing demand adequate assurance of due performance and until he receives such assurance may if commercially reasonable suspend any performance for which he has not already received the agreed return.

(2) Between merchantsthe reasonableness of grounds for insecurity and the adequacy of any assurance offered shall be determined according to commercial standards.

(3)Acceptance of any improper delivery or payment does not prejudice the aggrieved party's right to demand adequate assurance of future performance.

(4) After receipt of a justified demand failure to provide within a reasonable time not exceeding thirty days such assurance of due performance as is adequate under the circumstances of the particular case is a repudiation of the contract.
https://www.law.cornell.edu/ucc/2/2-609

DEFFORM 47R
Ministry of Defence
INVITATION TO TENDER
...
13. Guarantee of Due Performance
https://data.gov.uk/data/contracts-finder-archive/download/1...

--------------------------------------------------
Note added at 21 hrs (2017-10-02 14:09:52 GMT)
--------------------------------------------------

Some more links form the UK:

In contrast to a bond, a guarantee only guarantees due performance of the contract. In the construction context, most performance bonds are in fact guarantees.
https://www.ukconstructionmedia.co.uk/features/legislation/a...

[...] no sub-letting on the part of the Service Provider shall operate to relieve the Service Provider in any respect from its liability to the Council for the due performance of the Contract.
https://www.kirklees.gov.uk/beta/business-with-the-council/p...

Contracts of suretyship fall into two main categories: contracts of guarantee and contacts of indemnity.

A contract of guarantee is a contract whereby the guarantor promises the creditor to be responsible for the due performance by the principal of his existing or future obligations to the creditor if the principal fails to perform them or any of them.
http://www.brianfarrington.co.uk/2014/04/refresher-performan...

WHERAS the Guarantor has agreed to guarantee the due performance of the Contract in the manner hereinafter appearing
https://www.hackney.gov.uk/media/2091/Form-of-parent-company...

Deed of Guarantee and Indemnity
...
(C) The Guarantor has agreed, in consideration of the Beneficiary entering into the Guaranteed Agreement with the Customer, to guarantee the due performance by the Customer of all of the Customer's payment and other obligations and liabilities under the Guaranteed Agreement on the terms set out in this Guarantee.
https://www.openreach.co.uk/orpg/home/products/ductandpolesh...

The Guarantor has agreed to guarantee the due performance of the Contract by the Contractor.
https://www.gov.uk/government/uploads/system/uploads/attachm...

--------------------------------------------------
Note added at 3 days15 hrs (2017-10-05 08:43:48 GMT) Post-grading
--------------------------------------------------

There might be different legal systems and concepts, and we need to account for them. It is just not correct to simplify or narrow down a legal concept while we don't know what is behind it. We might get lucky and get it right, but, more likely, we mistranslate it. In case of a dispute it might turn out that the legal concept has a different definition from the one in the UK. Hence, it is sometimes better to stick to literal translation. Obviously, it is not a general rule, but a safeguarding measure if we don't know enough.

---

Quite generally, the purpose of a damages award is to compensate the claimant and should be based on the difference in value between due performance and actual performance.
http://www.sfbtr15.de/uploads/media/235.pdf

Due performance and non-performance
---
(1) A party which reasonably believes that there will be a fundamental non-performance by the other party may demand adequate assurance of due performance and meanwhile may withhold performance of its own obligations so long as such reasonable belief continues.
https://www.cisg.law.pace.edu/cisg/text/peclcomp71,72.html

mike23
Poland
Local time: 18:18
Specializes in field
Native speaker of: Native in PolishPolish
PRO pts in category: 4
Notes to answerer
Asker: Thank you for all info and links.


Peer comments on this answer (and responses from the answerer)
agree  Daryo
35 mins
  -> Thank you, Daryo.
Login to enter a peer comment (or grade)



Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.

KudoZ™ translation help

The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.


See also:

Your current localization setting

English

Select a language

Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search