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byggherregaranti

English translation: developer guarantee

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Norwegian (Bokmal) term or phrase:byggherregaranti
English translation:developer guarantee
Entered by: brigidm

09:53 Jan 19, 2015
Norwegian (Bokmal) to English translations [PRO]
Tech/Engineering - Construction / Civil Engineering
Norwegian (Bokmal) term or phrase: byggherregaranti
Example of use: "Nordic Guarantee tilbyr byggherregarantier som garanterer byggherrens forpliktelser i henhold til underliggende kontrakt. Ofte dreier dette seg om forpliktelser vedrørende betaling til utførende entreprenør, men kan også være andre forpliktelser som f.eks. prosjektering."
brigidm
Norway
Local time: 05:05
developer guarantee
Explanation:
it is referring to a guarantee posted by the developer, for a certain project, to ensure that he is able to cover any and all costs of the undertaking. This is usually made as a bank guarantee.
Selected response from:

Stein Erik Buchardt
Norway
Grading comment
4 KudoZ points were awarded for this answer



Summary of answers provided
5performance bond
Charles Ek
4developer guarantee
Stein Erik Buchardt


  

Answers


45 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
developer guarantee


Explanation:
it is referring to a guarantee posted by the developer, for a certain project, to ensure that he is able to cover any and all costs of the undertaking. This is usually made as a bank guarantee.

Stein Erik Buchardt
Norway
Specializes in field
Native speaker of: Native in Norwegian (Bokmal)Norwegian (Bokmal), Native in Norwegian (Nynorsk)Norwegian (Nynorsk)
PRO pts in category: 14
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3 hrs   confidence: Answerer confidence 5/5
performance bond


Explanation:
Used to sit across from bond underwriters who wrote these all day long for customers of the insurance company we worked for. See the link for an explanation. These will typically cover completion plus payments due to subcontractors and materials suppliers.

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Note added at 4 hrs (2015-01-19 14:31:34 GMT)
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See http://byggejuss.no/garantier-i-entrepriseforhold-en-selvfol... for discussion about this, referring to NS 8405 and 8407.
I don't have an English translation of either standard immediately at hand, but I can do some poking around if you do not as well.


    Reference: http://www.designingbuildings.co.uk/wiki/Performance_bond_fo...
Charles Ek
United States
Local time: 22:05
Works in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 39
Notes to answerer
Asker: I thought that at first, Charles, but there's a snag. I can't disclose the full context but the contract must include: "bestemmelser om byggherregaranti og gjennomføringsgaranti fra totalentreprenør". I already used "performance bond" for "gjennomføringsgaranti".

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