progress payments

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Progress payments

Periodic payments to a supplier, contractor, or subcontractor for work as it is completed as desired, in order to reduce working capital requirements.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Progress Payments

The act or practice of paying a contractor in installments as different stages of work are completed, rather than providing a single lump sum at the completion of the project. Progress payments reduce the client's working capital needs for the project.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

progress payments

a contractual arrangement common to large construction projects whereby payment for work done is made at predetermined stages along the route to completion.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

progress payments

Payments to a contractor or developer based on the stage of completion of the project.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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Dr William Shrank, chief medical officer at UPMC Health Plan and Chronis Manolis, RPh, chief pharmacy officer at UPMC Health Plan, both hold leadership roles in the Center for Value-Based Pharmacy Initiatives and are experts in pharmaceutical outcomes research, pharmacy practice, progressive payment models and managed care leadership.
Known for being a forward-thinking regulator, the CBB has taken the front seat in instigating a progressive payment infrastructure and continuously explores the realms of cutting-edge innovation.
As regards to the advantages of the proposed system, DIKO argues, the existing complex calculation system of road tax will be repealed while introducing a more simplified and fairer progressive payment system of road tax on vehicles, which will reflect the damage caused to the environment from the use of vehicles, and is based on 'the polluter pays' principle.
The Credit Card Store is a progressive payment processing business offering everything from standalone Credit Card Terminals, Touch Screen POS Systems, to Online Payment Gateways for eCommerce.
Large personal exemptions in the flat tax create a progressive payment structure.
Although progressive payment is better than regressive payment--in which the rich pay less than their fair share--it is important to bear in mind that the bank bailout, whether it is progressively funded or not, is a severely regressive economic policy.
MARC notes that given that the sale proceeds from the commercial units and progressive payments for the hospital development will largely fund the overall construction costs of MYR 471 million, weak sales and construction delay could impact project cash flow and timely project completion.
They include financial instruments and products such as mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (benevolence/welfare loans), and istisna (progressive payments).
They have a realistic understanding of total cost differences (e.g., progressive payments, cost of quality, etc.).

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