Running Account Bill definition

Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the basis of work done and the supply of non-perishable materials to be incorporated in the work.
Running Account Bill means a Bill for the payment of ‘on accountmonies to the contractor in terms of Clause 6.4.1.0 hereof and associated clauses there under.
Running Account Bill means a bill for the payment of "On Account" money to the Contractor during the progress of work on the

Examples of Running Account Bill in a sentence

  • The Contractor may pay 2.5% of the value of works as initial security deposit and the balance 2.5% shall be recovered in installments through deductions at the rate of 10 (ten) percent of the value of each Running Account Bill till the total security execution exceeds the accepted value of e-Tender because of allotment of further work, further recoveries towards security deposit shall be effected at 10% of the R A Bills to make up the five percent security deposit of the revised value of contract.


More Definitions of Running Account Bill

Running Account Bill means a bill for payment of “on Accountto the Contractor.
Running Account Bill means a bill for the payment to be made to the Contractor on a running account when payment for work is made to him at specified intervals, subject to deductions as per contract and final settlement of the account on completion or determination of his contract.
Running Account Bill means the periodic bills raised by Contractor based on the progress of Services, but shall not includethe Final Invoice.
Running Account Bill means a bill for the payment of "On Account" money to the Contracto r during the progress of wo rk on the bas is of work done and the supply of non-perishable materials to be incorporated in the wo rk.
Running Account Bill. { R A } shall mean a Bill for the payment of 'on account' to the Contractor.
Running Account Bill means the Bill(s) submitted by the Contractor on monthly basis for the work(s) carried out during the immediately preceding month.
Running Account Bill means and include bill submitted by contractor for progressive completion of work certified by PMC. Rates and quantity certified as provisional and liable for correction in full and final bill due to quality or incomplete work