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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Camurus is eligible to receive an upfront payment and progressive payments of approximately USD65m, of which the majority are sales milestones.
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.).
Under the terms of the agreement, Protox will receive an upfront payment of USD3m (EUR2.27m) and is eligible to receive a near term milestone payment of USD5m, as well as progressive payments of up to USD67m upon achievement of specific development, regulatory and commercial milestones.
Under the terms of the licence agreement Ipsen will receive progressive payments of up to USD80m upon the achievement of certain development and commercial milestones plus royalties on future sales of the products.

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