Progress Payment

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August 31, 2024 3 min read Definitions

Interim Payment: Progress Payments in Contract-Based Projects

Economics Finance Accounting Interim Payment Progress Payment Contract-Based Projects Project Financing Construction Payments

Interim Payment, also known as progress payments, refers to partial payments made periodically for a project, contract, or work in progress. These payments are typically used in construction, manufacturing, and other long-term contractual projects.

August 31, 2024 4 min read Definitions

Progress Payment: Key to Managing Long-term Contracts

Finance Construction Accounting Progress Payment Long-Term Contracts Construction Shipbuilding Project Management

A comprehensive guide to understanding progress payments, their application, benefits, and management in long-term contracts such as civil engineering, shipbuilding, and large machinery.