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 ?
Consulting is to be provided within the proposed voucher system in three areas: (1) legal advice in such
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.
Senate Joint Resolution 9 would have given Alaska voters the opportunity to amend the state constitution to allow for the future creation of a state voucher system.
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).
We decided we wanted to do something for them and set up the voucher system.
It wasn't that the previous voucher system was inefficient," explained Laure Chadraoui, WFP's Beirut spokesperson.
We go down with a van and we take over the community centre and distribute the food parcels through our voucher system.
The voucher system helps to support the towns and villages around the camp and boosts the local economy.
The PS1billion online voucher system will benefit about 2.
Under the current voucher system higher rate taxpayers can only receive up to PS124 of vouchers per month (this reduces to PS110 per month for additional rate taxpayers).