Glossary › Progress Invoice
Core terms · definition
An invoice issued while a project is under way for the work completed in that period, as opposed to a single bill at the end. Progress invoicing is typically weekly on a remodel; on larger or lender-financed jobs the contract may set a milestone draw schedule instead.
Source: FAR 52.232-5 — Payments Under Fixed-Price Construction Contracts
Where this comes up on our site
Planning a kitchen, bath or whole-home remodel in Columbus?
iSpec LLC is a residential general contractor and custom home builder in Columbus, Ohio. When you are ready to talk about a real project, the first call is free.