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Vertragserfüllungsbürgschaft

English translation: performance guarantee

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Vertragserfüllungsbürgschaft
English translation:performance guarantee
Entered by: Terri Doerrzapf
Options:
- Contribute to this entry
- Include in personal glossary

21:44 Mar 13, 2002
German to English translations [PRO]
Law/Patents - Law: Contract(s)
German term or phrase: Vertragserfüllungsbürgschaft
also to do with architectural contract.
Terri Doerrzapf
Germany
Local time: 16:04
performance guarantee
Explanation:
As far as I understand a bond (see the other suggestion), money has to be paid up front and is kept in trust until the contract obligation has been fulfilled.
A guarantee, on the other hand, does not require the guarantor to submit funds right away - he will only be forced to pay in case of non-performance.
Selected response from:

Regina Landeck
Local time: 08:04
Grading comment
thanks :)!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3performance guarantee
Regina Landeck
5Fulfillment of a contract endorsement
GBChrista
4performance bond
jccantrell


  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
performance bond


Explanation:
defined as:

a bond given to protect the recipient against loss in case the terms of a contract are not filled; a surety company assumes liability for nonperformance


dictionary.com

jccantrell
United States
Local time: 07:04
Native speaker of: Native in EnglishEnglish
PRO pts in category: 87
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17 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
performance guarantee


Explanation:
As far as I understand a bond (see the other suggestion), money has to be paid up front and is kept in trust until the contract obligation has been fulfilled.
A guarantee, on the other hand, does not require the guarantor to submit funds right away - he will only be forced to pay in case of non-performance.

Regina Landeck
Local time: 08:04
Specializes in field
Native speaker of: Native in GermanGerman
PRO pts in category: 4
Grading comment
thanks :)!

Peer comments on this answer (and responses from the answerer)
agree  Dr. Fred Thomson
5 hrs

agree  xxxbrute
13 hrs

agree  Steven Swapp
3 days19 hrs
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8 hrs   confidence: Answerer confidence 5/5
Fulfillment of a contract endorsement


Explanation:
I would go for this

GBChrista
Germany
Local time: 16:04
Native speaker of: Native in GermanGerman
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Changes made by editors
Dec 19, 2008 - Changes made by Steffen Walter:
Term asked » Vertragserfüllungsbürgschaft
FieldOther » Law/Patents
Field (specific)(none) » Law: Contract(s)


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