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Advance Payment Bond is required when a Contractor applies for an advance payment from the Principal to help fund the preliminary costs and mobilisation works of the contract.The mode of repayment is through deduction or recoupment from subsequent progress payments, the quantum of which is determined by the Principal.

The payment certificate's function is to record the factual situation existing at a point in time during the progress of the works and for the certifier to give, in effect, his opinion as to the item / s being certified i.e. the value of the work performed to a certain point in time.

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Interim certificates provide a mechanism for the client to make payments to the contractor before the works are complete. The Housing Grants, Construction and Regeneration Act, states that a party to a construction contract in excess of 45 days is entitled to interim or stage payments.

Many standard forms of construction contract require that certificates are issued by the contract administrator. Certificates generally result in payment being made by the client to the contractor.

PaymentsCash (bills and change): Cash is one of the most common ways to pay for purchases.Personal Cheque (US check): These are ordered through the buyer's account.Debit Card: Paying with a debit card takes the money directly out of the buyer's account.Credit Card: Credit cards look like debit cards.

It can get very expensive to create your own payment gateway system from scratch. However, opting for a custom platform will provide you with the solutions that you require without breaking the bank.

Suppliers of materials generally try to protect their interests by 'retention of title' clauses in the supply agreement or on the relevant invoice, where ownership in the materials is retained until paid in full. A retention of title arrangement is a security interest under the PPSA.

Cashfree Payment gateway is as of now, one of the cheapest payment gateways in the country. This offers the lowest TDR.