progress payment

(redirected from Partial Payment)
Also found in: Legal, Encyclopedia, Wikipedia.

progress payment

n
(Commerce) an instalment of a larger payment made to a contractor for work carried out up to a specified stage of the job

progress payment

Payment made as work progresses under a contract, upon the basis of costs incurred, of percentage of completion accomplished, or of a particular stage of completion. The term does not include payments for partial deliveries accepted by the Government under a contract or partial payments on contract termination claims.
References in periodicals archive ?
Seller will offer financing to qualified buyers, with partial payment down.
expressed that the University has arranged from its own resources the partial payment of Rs.
The textile exporters have claimed that the Federal government is making the partial payment of sales tax refunds against the Federal Finance Minister Ishaq Dar's announcement of full payment against the already issued Refund Payment Orders (RPOs).
These schemes enable older workers to reduce their working hours, whilethe loss of income is compensated for by a partial payment of their pension.
Under the single payment coupon procedure, if a borrower made a partial payment and did not designate how to allocate the payment among all loans in the group, the bank allocated the payment evenly across all the borrower's outstanding student loans, according to the CFPB.
After farmers deposit their grains in the silos, Pinol said they could receive a partial payment based on the current market prices.
I took a personal loan from Emirates NBD in Ras Al Khaimah and I am not satisfied with the service, as the teller confirmed to me at the time that there is no provision of partial payment for the loan amount.
Swedish real estate company Fastighets AB Balder (STO: BALDB) has, as a partial payment for the sale of Tornet Landskrona, received 35% of Brinova Fastigheter AB and will together with Backahill AB become the main shareholder in a new company with focus on community properties and residentials, the company said.
Last partial payment received from PSM was in March 2015, SSGC said.
com)-- Recently, the leading Magento extensions developer MageDelight, based in Ahmedabad, India, launched their latest extension for Magento eCommerce stores called Partial Payment Magento Extension for the benefit of eCommerce merchants around the world.
Male Yahaira Rivera, 35, of Orlando, used some of those stolen funds to make a partial payment on a Porsche, federal prosecutors said.
Full browser ?