Glossary entry

Norwegian (Bokmal) term or phrase:

byggherregaranti

English translation:

developer guarantee

Added to glossary by brigidm
Jan 19, 2015 09:53
9 yrs ago
Norwegian (Bokmal) term

byggherregaranti

Norwegian (Bokmal) to English Tech/Engineering Construction / Civil Engineering
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."

Proposed translations

45 mins
Selected

developer guarantee

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.
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4 KudoZ points awarded for this answer.
3 hrs

performance bond

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.
Note from 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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