Percentage of Completion definition

Percentage of Completion means a fraction of which the numerator is the total project construction costs incurred for a Licensed Vacation Ownership Property under construction at the end of a reporting period and the denominator is the total expected project construction costs for such Licensed Vacation Ownership Property.
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Percentage of Completion means the percentage applicable to the Stage at which a particular Unit has been developed at the time of determination (which determination shall be made by Lender in its sole discretion). Lender and Borrower hereby agree that the Percentage of Completion applicable to each Stage of construction of a Unit shall be as provided in Exhibit A attached hereto and made a part hereof.
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Percentage of Completion means, as of any day, that percentage of the Project which has been completed according to the schedule of values approved by the Contractor, the Redeveloper and the Authority (and the applicable Construction Consultant).
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Examples of Percentage of Completion in a sentence

  • For each item, provide a column for listing: Item Number; Description of work; Scheduled Value; Previous Applications; Work in Place and Stored Materials under this Application; Authorized Change Orders; Total Completed and Stored to Date of Application; Percentage of Completion; Balance to Finish; and Retainage.

  • Revenue from the projects is recognised by applying Percentage of Completion Method in compliance of Guidance Note on Accounting for Real Estate Transaction (Revised 2012) issued by the Institute of the Chartered Accountants of India.

  • Payment by Percentage of Completion Payment for the development of the Project will be based on completion of project milestones by Contractor and accepted as per Section 4.0. Each Project milestone has been assigned a percentage.

  • For each item provide a column for listing: Item Number; Description of Work; Scheduled Value, Previous Application; Authorized Change Orders; Total completed and Stored to Date of Application; Percentage of Completion; Balance to Finish; and Retainage.

  • The Percentage of Completion will be calculated and applied to such Licensed Vacation Ownership Property each reporting period until such time that the Licensed Vacation Ownership Property achieves its Certificate of Occupancy, at which time and for all periods thereafter, the Percentage of Completion will be 100%.

  • On June 2017, DMCI PDI changed its accounting policy on recognition of real estate sales and cost of sales from completed contract method to Percentage of Completion (POC) method as allowed under the Philippine Financial Reporting Standards (PFRS).

  • The following judgment made by management in the application of the Group's accounting policies that have significant effect on the amounts presented in the financial statements: Revenue Recognition - Percentage of Completion MethodRevenue from the sale of shopping centers and apartment units are recognized using the percentage of completion method.

  • The Company now uses the Percentage of Completion Method of revenue recognition to align with the industry practice and adapt in advance the Philippine Financial Reporting Standards (PFRS) 15 dictating that revenue from contracts be recognized in reference to the stages of development of the properties.

  • Revenue has been considered as per Percentage of Completion Method.

  • For construction contracts, the Group uses the "Percentage of Completion Method" to recognize income and expenses relating to a contract in progress.


More Definitions of Percentage of Completion

Percentage of Completion has the meaning as set forth in Section 6.4.
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Percentage of Completion means the percentages (a) certified by Borrower through a Work in Progress Report, and/or (b) verified by the Construction Consultant, and (c) approved in writing by Administrative Agent.
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Percentage of Completion means (a) for any Home included as Eligible Property, the current percentage of construction completed as reflected in each Borrowing Availability Report based upon the stages of construction set forth in Exhibit ”D”, and (b) for any Lot or groups of Lots, included as Eligible Property, the current percentage of completion of A&D Improvements in the applicable Approved Subdivision as reasonably determined by Agent based on its review of the current Borrowing Availability Report and inspections of the Collateral made pursuant to this Agreement.
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Percentage of Completion means, with respect to each Lot and Home as of any time of determination (which determination shall be made by the Bank in its sole discretion), the percentage of completion determined in accordance with Schedule 1 attached hereto.
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Related to Percentage of Completion

  • Date of Completion with respect to a Project shall mean: (i) the date upon which such Project and all components thereof have been acquired or constructed and are capable of performing the functions for which they were intended, as evidenced by an Engineers’ Certificate filed with the Trustee and the Issuer; or (ii) the date on which the Issuer determines, upon the recommendation of or in consultation with the Consulting Engineer, that it cannot complete such Project in a sound and economical manner within a reasonable period of time as evidenced by an Engineers’ Certificate filed with the Trustee and the Issuer; provided that in each case such certificate of the Consulting Engineer shall set forth the amount of all Costs of such Project which have theretofore been incurred, but which on the Date of Completion is or will be unpaid or unreimbursed.

  • Time of Completion means the time for completing the execution of and passing the Tests on Completion of the Works of any section or part thereof as stated in the Contract (or as extended under Clause...) calculated from the Commencement Date

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • Final Completion Date means the date on which Final Completion occurs.

  • Notice of Completion means a document issued by the Department or Delegated Agency at the end of project construction when all items and conditions of the approved Sediment and Stormwater Management Plan have been satisfied, post construction verification documents demonstrate that the stormwater management systems have been constructed in accordance with the approved Sediment and Stormwater Management Plan, and final stabilization of disturbed areas on the site has been achieved.

  • Test on Completion means such tests as prescribed in the Contract to be performed by the Contractor before the work is Taken Over by TSECL.

  • Target Completion Date has the meaning given such term in Section 3.3(b).

  • Tests on Completion means the tests which are specified in the Contract or agreed by both Parties or instructed as a Variation, and which are carried out under Clause 9 [Tests on Completion] before the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • The Completion Date means the date of completion of the Works as certified by the Employer’s Representative.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Quarterly (1/Quarter) sampling frequency means the sampling shall be done in the months of March, June, August, and December, unless specifically identified otherwise in the Effluent Limitations and Monitoring Requirements table.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Substantial Completion Date means the date on which Substantial Completion occurs.

  • Substantial Completion means the stage in the progress of the work as determined and certified by the Contracting Officer in writing to the Contractor, on which the work (or a portion designated by the Government) is sufficiently complete and satisfactory. Substantial completion means that the property may be occupied or used for the purpose for which it is intended, and only minor items such as touch-up, adjustments, and minor replacements or installations remain to be completed or corrected which:

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Annual Turnover means the actual turnover achieved during your first year of operations, from the commencement of your business to the date of the damage, converted to a 12-month equivalent figure.

  • Certificate of Completion means the certificate of completion given by the Engineer-in- charge pursuant to clause 40 of these conditions;

  • Construction Completion Date means the Completion Date of the Construction as specified in the Statutory Declaration of Completion for the Project;

  • Testson Completion means the tests which are specified in the Contractor agreed by both Parties or instructed as a Variation, and which are carried out under Clause 9 [Tests on Completion] before the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Yearly (1/Year) sampling frequency means the sampling shall be done in the month of September, unless specifically identified otherwise in the effluent limitations and monitoring requirements table.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Semi-annual (2/Year) sampling frequency means the sampling shall be done during the months of June and December, unless specifically identified otherwise.

  • Tests after Completion means the tests (if any) which are specified in the Contract and which are carried out in accordance with the Specification after the Works or a Section (as the case may be) are taken over by the Procuring Entity.

  • Project Completion Date means the date on which the Completion Certificate is issued;

  • Completion Period means the period starting from the date of issue of "Order" and required to complete the work in all respect.

  • project completion period means the period of sixty (60) months commencing from and expiring on for the construction and obtaining of Temporary Occupation Permit or Permits for the whole of the Development as provided in clause 3.3;