Advance Payments

Concept of Advance Payments in the context of Real Property

A short definition of Advance Payments: Payments made to a contractor before performance. Not the usual method and when made by HUD or GNMA, there must special approval. See also: Progress Payments; Provisional Payments.

Concept of Advance Payments in the context of Real Property

A short definition of Advance Payments: Payments made to a contractor before performance. Not the usual method and when made by HUD or GNMA, there must special approval. See also: Progress Payments; Provisional Payments.