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 ?
Many Slovaks eat lunch there every day, thanks in part to the meal voucher system.
The village will be exploring possibilities such as a voucher system or partnering with an existing service.
The monthly meal voucher system will enable an employee to receive designated meal voucher money as a part of the corporate employee benefits program.
One of the considerations is fuel support [through] voucher system for fishermen to reduce their fishing cost even just a little,' Lopez revealed.
UVEX says it has an effortless solution for companies to avoid the many drawbacks of the optician's voucher system for procuring prescription safety eyewear for their employees.
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.
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.