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Contract Definitions and Meaning

Can someone explain to me in details the following terms used in Contracting?

1) Progress Payments

2) Performance-Based Payments

3) Liquidated Progress Payments

4) Unliquidated Progress Payments

5) Ordinary Liquidation Rate

6) Alternate Liquidation Rate

Thanks In Advance

Solution Preview

1) Progress Payments
Periodic payments to a supplier, contractor or subcontractor for work satisfactorily performed to date.

2) Performance-Based Payments
A payment system that is based on performance links the amount of funding with the results that the provider achieves.

3) Liquidated Progress Payments
Progress ...

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