progress payment Meaning in the Cambridge English Dictionary Cambridge dictionaries logo
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Meaning of “progress payment” in the English Dictionary

"progress payment" in Business English

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progress paymentnoun [C]

uk   us   also milestone payment HR, MANAGEMENT, WORKPLACE
one of the payments made at different stages of a piece of work, usually when a particular stage has been completed: If a progress payment is not made within the agreed time, the builder can leave the job unfinished.
(Definition of progress payment from the Cambridge Business English Dictionary © Cambridge University Press)
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