progress payment

= payment on account
A stage payment made to a contractor based on the level of work completed at a specified date, as certified by an agreed authority. It is used in the costing of long-term contracts, such as civil engineering, shipbuilding, or large items of plant and machinery.

Accounting dictionary. 2014.

Look at other dictionaries:

  • progress payment — ➔ payment * * * progress payment UK US noun [C] (also milestone payment) HR, MANAGEMENT, WORKPLACE ► one of the payments made at different stages of a piece of work, usually when a particular stage has been completed: »If a progress payment is… …   Financial and business terms

  • progress payment — noun : a partial payment made under a construction contract as the project goes forward * * * progress payment UK US noun [countable] [singular progress payment plural progress payments] business …   Useful english dictionary

  • progress payment — UK / US noun [countable] Word forms progress payment : singular progress payment plural progress payments business a payment of part of the money agreed for a job when one part of the job is completed …   English dictionary

  • progress payment — / prəυgres ˌpeɪmənt/ noun a payment made as a particular stage of a contract is completed ● The fifth progress payment is due in March …   Dictionary of banking and finance

  • progress payment — periodinis mokėjimas statusas T sritis Gynyba apibrėžtis Pagal sutarties su tiekėju nuostatas atliekamas reguliarus mokėjimas, kurio suma sudaro sutartyje nustatytos sumos dalį. atitikmenys: angl. progress payment ryšiai: susijęs terminas –… …   Lithuanian dictionary (lietuvių žodynas)

  • 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… …   Military dictionary

  • progress payment — An instalment of a total payment made to a contractor, when a specified stage of the operation has been completed …   Big dictionary of business and management

  • Поэтапные выплаты (PROGRESS PAYMENT)  — Платежи на основании промежуточных счетов по факту частичного завершения контракта …   Словарь терминов по управленческому учету

  • payment — The amount required to repay a loan, including interest and fees. Bloomberg Financial Dictionary * * * payment pay‧ment [ˈpeɪmənt] noun 1. [countable, uncountable] FINANCE an amount of money that must be or has been paid, or the act of paying it …   Financial and business terms

  • progress — ▪ I. progress pro‧gress 1 [prəˈgres] verb [intransitive] 1. to develop over a period of time, becoming better or more complete: • The joint venture is progressing faster than expected. progress to • We haven t yet progressed to the negotiating… …   Financial and business terms

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