Proportionate crediting
English translation: issuing a credit that is pro rated based on the time that maintenance services ...
| 05:44 Dec 14, 2007 |
| English language (monolingual) [PRO] Law/Patents - Law: Contract(s) | |||||||
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|  Selected response from: Deborah Workman United States Local time: 23:54 | ||||||
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| Discussion entries: 2 | |
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Answers
2 hrs confidence: 
| proportionate crediting add money to the party's account appropriately based on what is owed Explanation: It's hard to tell what is going on in this context, that is for sure. I am not really sure why one or both of the parties are credited. However, the meaning of "credited" in this case is as follows. For example, if Party A performed a service, his account might be credited with a +$500 balance for services performed. "Crediting" is adding money to an account or to a balance. So, the party to be credited will have money added to his account, proportionate to what the money is being credited for. If the person performed $500 worth of services, the person's account should be credited for $500. That's all this means. So "add money to the party's account appropriately based on what is owed" is a fair explanation of this, I think. |
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20 hrs confidence:
| proportionate crediting issuing a credit that is pro rated based on the time that maintenance services ... Explanation: I.e., "issuing a credit that is pro rated based on the time that maintenance services remain improperly performed or are withdrawn" I read the passage this way: 1. Principal informs Contractor in writing of any improper maintenance. 2. The scope of the guarantee granted in preceding sub-clause includes a. the proper performance of maintenance initially performed improperly, OR b. [such] at Contractor’s discretion, dissolution in whole or in part, without judicial intervention, of the agreement concluded with Principal (in so far as said agreement is binding in terms of intended maintenance) IN COMBINATION WITH proportionate crediting." Which is to say that if maintenance is done improperly the Contractor has the choice either to perform it properly or to withdraw from the maintenance contract so that he is no longer bound by any terms regarding maintenance (and he can withdraw without having to go to court) BUT HE ALSO MUST pay the Principal for the period that the services were not rendered properly (in the case of improper performance) or rendered at all (in the case of early termination of the maintenance contract). Of course, the Contractor may not be a "he". More likely the Contractor is an "it". But it's easier to explain using "he". I debated whether the credit would apply only to option B, but then in either case the Principal would want to be compensated for downtime or nonperformance. |
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