Defrayment definition
Defrayment here means formal proof of settlement of an RTD performer’s claim against the customer for services rendered. 4 Grant Thornton, an experienced auditor of FP projects, have stated that as auditors they would accept this as evidence of defrayment provided that the invoice/statement to the SME/Associations specifies this is the defrayment method being used.
Examples of Defrayment in a sentence
Defrayment of the Management Fee shall be contingent upon the Management Company’s supplying the Company with a tax invoice at the beginning of the month subsequent to the month on account of which the invoice was rendered.