holdback


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holdback

[′hōl‚bak]
(mechanical engineering)
A brake on an inclined-belt conveyor system which is automatically activated in the event of power failure, thus preventing the loaded belt from running downward.
References in periodicals archive ?
The amount of this demand guarantee or personal guarantee will be equivalent to that of the holdback they replace.
Therefore, determining whether a seller has constructively received a payment in the year of sale requires scrutiny of the parties' escrow or holdback arrangement.
The holder retains the possibility, throughout the duration of the contract, to substitute a first demand guarantee to the holdback.
If annual renewal, the procedure for drawing a new holdback under the conditions of this article.
The holdback may be replaced at the option of the holder by a demand guarantee in accordance with Article 102 of the Code of public contracts.
This holdback may be replaced at the option of the holder by a demand guarantee or, if both parties agree, by a joint and several guarantee, incorporated in full no later than the date on which the holder shall demand payment for the first installment of the market.
1 "financial security" of the special administrative clauses a holdback of 5% of the original contract price (plus any amount of endorsements) will be formed.
Deposits and Guarantees required: A holdback of 5% of the amount of each purchase order will be made.