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Retained Liabilities


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18:24 Oct 5, 2010
This question was closed without grading. Reason: Other

English to English translations [PRO]
Bus/Financial - Law: Contract(s) / Insurance
English term or phrase: Retained Liabilities
It's the insurance clause in the agreement.

"The Contractor will arrange a contractor's "All Risks" policy in accordance with the Main contract conditions. This policy will be subject to certain Retained Liabilities (Retained Liabilities include certain non-recoverable monies in relation to each and every claim which will be to the account of the subcontractor in relation to any claims under these policies)."

I thought of other equivalents in English the writer might have meant, given the intolerable mistakes in the contract, but couldn't reach any.

Please be as detailed as possible.
Sam21
Egypt
Local time: 03:14


Summary of answers provided
5uncertain/doubtfulxxxsilifke63


Discussion entries: 3





  

Answers


21 mins   confidence: Answerer confidence 5/5
retained liabilities
uncertain/doubtful


Explanation:
I suggest to take it in the context of accounting. For example, consider what the "retained earnings" mean in accounting.

xxxsilifke63
Native speaker of: Native in TurkishTurkish

Peer comments on this answer (and responses from the answerer)
neutral  Travelin Ann: not as I understand it http://www.answers.com/topic/retained-earnings
6 hrs
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