Non-Performance

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Non-Performance

The state of not doing the work one was hired to do. For example, suppose a video editor is hired to produce five 10-minute videos. If the client does not receive the videos in the allotted time and there is no evidence that the editor has done any work, he may be liable for non-performance on the contract. Non-performance may be actionable.
References in periodicals archive ?
A better method, however, would be to estimate the average probability of nonperformance and the correlation between nonperformance and exposure for reinsurance counterparties.
Indemnifies the buyer for damages beyond those caused by the buyer's own nonperformance under the subservicing agreement.
Any nonperformance by a counterparty, whether due to insolvency, bankruptcy or other causes, could subject you to substantial losses.
The Lounge at REDCAT also will expand its hours to make the coffee shop, Wi-Fi spot, bar and bookstore available six nights a week, even on nonperformance evenings.
These risks, uncertainties and contingencies include, but are not limited to, the following: whether or not the transaction will be cash flow accretive; competition from other providers of natural gas gathering and processing services; potential equipment malfunction and repair delays; the legislative or regulatory environment; nonperformance by major customers or suppliers; and political and economic conditions, including the impact of potential terrorist acts.