Advance Payment definition

Advance Payment means a payment that a federal awarding agency or passthrough entity makes by any appropriate payment mechanism, including a predetermined payment schedule, before the non-federal entity disburses the funds for program purposes.
Advance Payment means any payment by an Obligor in advance of the related Due Period in which it would be due under such Contract and which payment is not a Principal Prepayment.
Advance Payment means the monetary amount payable to an employee ordered/authorized to depart or his/her designated representative in advance of the date on which the employee would otherwise be entitled to be paid.

Examples of Advance Payment in a sentence

  • Bank Guarantee for Advance Payment Form - When Advance payment is requested for by the successful bidder and agreed by the procuring entity, this form must be completed fully and duly signed by the authorized officials of the bank.

  • The Advance Payment Guarantee shall be denominated in the proportion and currencies named in the form of foreign currency requirements.

  • The Performance Security Form and Bank Guarantee Form for Advance Payment should not be completed by the Bidders at the time of their Bid preparation.

  • Advance Payment and Terms of Payment11.1. Advance payment shall be made only after prior approval of the President, and shall not exceed fifteen percent (15%) of the Contract amount, unless otherwise directed by the President or in cases allowed under Annex “D” of RA 9184.

  • The forms for Performance Security and Advance Payment Security, when required, shall only be completed by the successful Bidder after contract award.


More Definitions of Advance Payment

Advance Payment is defined in Section 3.1(b) of this Agreement.
Advance Payment means the deposit of funds by the Client to pay for future expenses.
Advance Payment means a payment foreseen in the Contract intended to provide the Contractor with liquidity to allow the initiation of the contractual works.
Advance Payment means a sum equal to the amount named in Special Conditions of Contract and paid to the Contractor by WAPCOS Limited by way of a mobilisation/advance payment in accordance with Clause 5.26.11 [Advance Payment].
Advance Payment shall have the meaning set forth in Section 15.1.
Advance Payment shall have the meaning set forth in Clause 19.2; “Affected Party” shall have the meaning set forth in Clause 21.1;
Advance Payment has the meaning given in Clause 4.1 and is in the amount set forth above in the Loan Facility Terms.