Definitions for "Progress payment"
The monthly payment to a contractor based on the degree of completion of a contract.
A payment made as work progresses under a contract on the basis of percentage of completion accomplished, or for work performed at a particular stage of completion.
One in a series of payments made at stages in the performance of a contract of sale, e.g., up front to obtain materials, after completion of manufacturing, upon shipment, upon installation, and upon final inspection.
Keywords:  promissory, note
Promissory Note
Keywords:  article, draw, read, full, see
See draw.... read full article