Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.
A form of contract financing where payments are made as work progresses.
Payments made periodically throughout the lead time of a purchased product or service. Payments made in advance of delivery or completion for specific reasons. As examples, a progress payment might be made to a supplier to be used to purchase raw materials, or payments might be made at specific intervals during a construction project as parts of the project are completed.
Payments received from the payor in response to billings.
If the property you purchase is under construction, progress payments may need to be made to the builder as the building is constructed.
A lease, typically for custom ordered items, that requires a temporary disbursement to the vendor for a percentage of the work completed.
payments made to a contractor during the life of a fixed-price type contract, on the basis of some agreed-to formula, for example, budget cost of work performed or simply costs incurred.
Loan advances issued to a builder as construction of a building moves forward.
A special kind of lease for vendors who require up to 100% of the selling price prior to delivery. (Most leases are designed to fund your equipment vendors immediately after you confirm that the equipment that you ordered has been received in satisfactory order.) Some vendors, however, require that specially ordered, configured or manufactured-to-order equipment be paid for in stages ranging from small up front, order-confirmation deposits, to multiple "progress payments" as the order gets closer to shipping to full-prepayments. First Capital can accommodate almost any equipment vendor's pre-payment requirement. Also see First Capital's " Cash Flow Friendly" page for a more detailed discussion of lease options.
Many purchases require up to 100% of the sale price prior to delivery. This is necessary since most leases require delivery and acceptance prior to payment. In addition, this will meet the specific needs of the vendor without actually delivering the equipment. In some cases, the equipment is custom built, or being shipped over seas. Whatever the case may be, MAC Financial is able to meet the vendor(s) terms by making progress payments in multiple stages until the equipment is paid in its entirety. This will preserve both you and the vendor(s) cash flow and make the purchase possible.
Periodic payments made during the construction of an asset, typically on a percentage-of-completion basis (e.g. 25% of the total cost is paid when the asset is 25% constructed).
In construction, loan payments issued to the builder as building is completed.
When a lender pays instalments to a builder as the building is constructed, normally in five payments.
In a construction loan, payments made to a contractor as the various construction stages are completed. The contractor uses progress payments to pay the various subcontractors and suppliers as construction proceeds.