Business / Construction / Payment Schedule: A pre-agreed upon schedule of payments to a contractor usually based upon the amount of work completed. Such a schedule may include a deposit prior to the start of work. There may also be a temporary 'retainer' (5-10% of the total cost of the job) at the end of the contract for correcting any small items which have not been completed or repaired.
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Schedule Noun Synonyms: programme, timetable, plan, calendar, agenda, outline, list, listing, record, register
Schedule Adjective Synonyms: programme, organize, plan, outline, list, record, register, arrange, book, time, slate, appoint, assign, allot, dedicate, earmark
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Business / Accounting / Pre-Payments: One or more accounts set up to account for money paid in advance (eg. insurance, where part of the premium applies to the current financial year, and the remainder to the following year). MORE
Business / Finance / Prepayment Penalty: A fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. MORE
Business / Finance / PIK (Payment-In-Kind) Securities: Highly speculative bonds or preferred stock that pay interest or dividends through additional bonds or preferred stock. MORE