What is accelerated progress billing?

Accelerated progress billing is a payment method used in construction and project management that allows contractors to request payments more frequently and in larger amounts as project milestones are achieved. This approach helps improve cash flow for contractors by enabling them to receive funds sooner rather than waiting until the project is fully completed. It can also provide clients with better visibility into project progress and expenditures. However, it requires clear communication and agreement on milestones between all parties involved.