stage payments

stage payments
Advances made under construction loans when the loan proceeds are disbursed only as specific construction tasks are completed. For example, a portion of the loan proceeds may be disbursed after the foundation is poured. Construction lenders often disperse funds in 4 or 5 stages; however, as many as 10 stages are common. American Banker Glossary
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Payments received during the completion of contracts, particularly in the construction industry. There is a tax point whenever an invoice is issued or a payment made - whichever happens first. HM Customs & Revenue Glossary

Financial and business terms. 2012.

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