Progress Payment definition

Progress Payment means a payment by a public agency to a contractor for work in place under the terms of a construction contract.
Progress Payment means a portion of the Target Award or Actual Award determined in accordance with Section 3.5 that has been earned by the Participant as of the end of the Progress Period, based on achievement of the applicable Performance Goals, and that may be paid to the Participant during the Performance Period.
Progress Payment means the form accepted by City and used by CM@Risk in requesting progress payments or final payment for Work performed under this Contract, which includes supporting documentation as required by the Contract or City.

Examples of Progress Payment in a sentence

  • If University approves the amount or any portion of the amount, University will promptly pay (each a Progress Payment) to Contractor the amount approved so long as Contractor is not in default under this Agreement.

  • Each invoice submitted to City for payment shall include the information required in the HRC Progress Payment Form and the HRC Payment Affidavit.

  • Owner may, any time after a Deductive Change Order is presented to Contractor by Owner for items under Article 2.2 or Article 9.6 of if there is disagreement as to the Deductive Change Order, issue a unilateral Deductive Change Order on the Project and deduct the Deductive Change Order from a Progress Payment, Final Payment, or Retention.

  • Failure to provide the HRC Progress Payment Form and the HRC Payment Affidavit with each invoice submitted by Contractor shall entitle City to withhold 20% of the amount of that invoice until the HRC Payment Form and the HRC Subcontractor Payment Affidavit are provided by Contractor.

  • If the Contractor, and the County’s Project Manager cannot agree on a revised amount, the County’s Project Manager will promptly issue a Progress Payment Request in the amount for which it is able to make such representations to the County Auditor.


More Definitions of Progress Payment

Progress Payment means a payment that is made against: (a) Successful achievement, certified in writing by the Agency’s representatives, of a milestone defined in the milestone payment plan of a fixed price contract; (b) Cost reports approved by the Agency in a cost reimbursement contract for a period agreed in the Contract.
Progress Payment means a payment made under the terms of a contract after the performance of the part of the contract in respect of which payment is made but before the performance of the whole contract;
Progress Payment means a payment that is made against:
Progress Payment means an award made prior to the full completion of a remediation and may include payments after completion of an emergency action, site investigation, remedia- tion, maintenance or operation, or other points as defined in this chapter.
Progress Payment means any installment of the Contract Price payable as specified herein.
Progress Payment. , for a building contract, means the payment of an amount that is a part of the contract price for the contract, other than an amount that is, or is in the nature of, a deposit under the contract.
Progress Payment shall have the meaning given in Section 3.3 of the Supply Agreement.