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Semantic web today is considered to be the extended limit of the World Wide Web and in recent years there has been promising advancements with great potential in the field of semantic computing. We see semantic applications emerging not only in web environment but in different industries to realize its utility in explicit expression of data in enterprises. This proved to have a rather excellent outcome in semantic web implementations but the true power of semantic web lies in service composition. Semantic web service composition could take the most advantage from the semantic data for finding the optimum combination of web services. Quality of Service (QoS) parameters are known as critical factors for selecting the web service with the best attributes but yet remain a statistic and metric form of data. QoS attributes are usually estimated trough formulas and mostly inaccurate which leads to composition failure and raises the need for fault tolerance and its mechanisms. So far there has been little work done to make the fault tolerance more compatible with the semantic web. In this paper we propose a more profound solution for this problem with the use of semantic web technologies for fault tolerance. A new ontology for fault tolerance is introduced which essentially improves the web service composition performance with providing a fault detection and recovery guidance system.