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caractère libératoire

English translation: will have the character of a final settlement

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:auront un caractère libératoire
English translation:will have the character of a final settlement
Entered by: Parrot
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01:47 May 1, 2001
French to English translations [Non-PRO]
Bus/Financial
French term or phrase: caractère libératoire
Part of a contract - the context is penalties for late completion of work - 'Ces pénalités seront plafonnées à 3% du montant du marché et auront un caractère libératoire'

Thanks for any suggestions
will have the character of a final settlement
Explanation:
Another possibility is "payment in full". However, since a ceiling of 3% of the contract price is cited for penalizations, it would be more logical to assume that the totality is to be calculated after the completion of the work (penalizations usually accruing in accordance with the period of delay).
Selected response from:

Parrot
Spain
Local time: 08:11
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4 KudoZ points were awarded for this answer

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Summary of answers provided
nawill have the character of a final settlement
Parrot


  

Answers


6 mins
will have the character of a final settlement


Explanation:
Another possibility is "payment in full". However, since a ceiling of 3% of the contract price is cited for penalizations, it would be more logical to assume that the totality is to be calculated after the completion of the work (penalizations usually accruing in accordance with the period of delay).

Parrot
Spain
Local time: 08:11
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 1861
Grading comment
Thank you for your help.
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