voucher system

Voucher System

A system in which a receipt representing monetary value is issued, but can only be spent on certain items. For example, a charity may use a voucher system to provide assistance in paying recipients' utility bills. The vouchers may be redeemed for credit at the utility company but they may not be used for other purposes like groceries or rent. Likewise, in an educational voucher system, parents could use a receipt representing a portion of tax money to pay tuition at a private school.

voucher system

A method of disbursing money from a construction loan.The developer or the general contractor (general) will give vouchers to subcontractors (subs) or suppliers as they are entitled to payment under their own contracts.The voucher certifies that the work has been performed properly,or the supplies are free from defect and accurate in price and amount delivered.The subs or the suppliers then take their vouchers to the construction lender,who writes checks to them.The drawback is that it is management intensive for the lender, who is usually operating on such tight margins that it can't afford the administrative staff to service a voucher system.The more common system is the draw system, in which the general receives large chunks of money on a prearranged draw schedule and then disburses them to subs and suppliers.

References in periodicals archive ?
Contract notice: A service voucher system for the city of jyvskyl
Opponents criticized the grounds of the bill, saying it expanded the voucher system while failing to address the causes of bullying and other violent incidents in schools.
With both properties sold, the townships focus will turn toward implementing a day care voucher system.
The proposed voucher system would hurt hardworking Americans who have paid into the program their entire working lives--hitting those near retirement age the hardest.
The voucher system was set up because where and when a team plays in the knockout stage depends on how they do in the group phase.
Mayroong mga provinces that will start implementing the voucher system dahil kulang nga ang mga classroom,
The food bank, which operates a voucher system, gives immediate, practical help to people in crisis.
MP Natalia Nikitenko has asked why the Ministry of Education does not use a voucher system in enhancing the professional development of teachers.
FIRMS across the Midlands have been warned that a shake-up of the childcare voucher system could hit the balance sheet.
Whilst your colleague is correct that the government has announced that it is to phase out the existing, employer-sponsored, childcare voucher system, it is set to replace it with a new tax-free childcare voucher scheme that will be available to all couples where neither parent earns more than PS150,000 (the "additional rate" income tax threshold).
It wasn't that the previous voucher system was inefficient," explained Laure Chadraoui, WFP's Beirut spokesperson.
The voucher system helps to support the towns and villages around the camp and boosts the local economy.