progress payments
(redirected from Progressive Payments)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.
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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.