Stage payments

Such a pattern has advantages for the supplier in that it reduces the financial risk arising from possible insolvency of the client or from default for other reasons and it reduces possible cash flow difficulties. If the client is not prepared to accept a payment pattern of this type, the supplier is likely to demand a premium to cover the increased risk and the costs of financing the development In negotiating the payment pattern, the supplier will usually seek to have the stage payments becoming due on fixed calendar dates while the client will try to have them tied to the achievement of specific project milestones, e.g. approval of the design specification. 

Construction contractors know from the bid stage onwards that construction completion will be achieved and documented system by system, and that they will be encouraged to proceed expeditiously along this path by linking substantial stage payments to this exercise. 

Whatever form of Conditions of Contract is used, it is important that the requirements for completion of respective phases of the contract are clearly defined. Such milestones in the progress of site activities are usually fonnalized by appropriate certification. To these many may be linked to stage-payments, or transfer of ownership with its significant effect on insurance liabilities. 

NB stage payments may be made at defined intervals of work completion. 

A lump-sum price contract covering the entire scope of work, usually from conceptual design to acceptance of the work, including direction of commissioning. NB Stage payments may be made at defined intervals of work completion. 

Lump Sum contract contractor manages and executes specified work to an agreed delivery date for a fixed price. Penalties may be due for late completion of the work, and this provides an incentive for timely completion. Payment may be staged when agreed milestones are reached. 

In order to analyse the balance in view of the threat of exclusion from public financing, the author devises a demand equation with a two-stage budget allocation. The first step is to choose a therapeutic group, and the second is to choose the differentiated products. The co-payment acts as the price. The main conclusion is that when the product is included in public financing the health service can receive a discount if the political decisions are price-sensitive and the fixed cost of market entry in the event of inclusion is lower than the fixed cost of exclusion. In his study of price-cap regulation, the author insists that the mechanism should be continued in the long term, and that therefore it is necessary to account for the entire lifetime of the product and consider a discount factor. All this takes as its point of departure Abbott s 1995 model. 

Phase 4 - The stage at which the deal is consummated. Whereas Phase 3 ironed out all major questions of the contract framework, this last stage gets down to a review of the contract, exact delivery dates and payment terms, and is concluded with the signing of the contract. 

The amounts and timing (advance, stage or interim and final) of payments and the pa)unent of reasonable expenses/disbursements. 

The consensual identification and control of the unit of payment together with an agreed approach towards profit sharing seemed to be the most time-consuming and sophisticated steps during the development of the model. Instruments such as UNIDO s Toolkit or quality assurance systems will be supportive in managing that critical and important stage. 

Like other early stage R D alliances, a large fraction of total pre-commercial payments from pharma licensee to biotech licensor in CC alliances comes in the form of R D reimbursement. Such reimbursement is usually negotiated as a minimum annual payment per year (R D/yr), either on a fixed dollar basis or as a function of the number of biotech full-time equivalent scientists (FTEs) expected to conduct the alliance program. In addition, R D reimbursement is usually negotiated for an expected number of years (R D term), although often it is possible for the licensee to cancel R D reimbursement prior to the completion of the R D term. 

In the absence of adequate support to file and defend patents, individuals or institutes may decide to approach companies with the aim of licensing the invention. This is often done already before the draft stage of a patent application. The invention as a whole may be offered to the company, in which case the company may act as applicant or licensee of the patent and will request exclusive exploitation rights in exchange for the payment of patenting costs and for later royalties. 

The second stage includes the laboratory analysis (only performed in Saudi Arabia, Kuwait or UAE). Then, a GCC-DR registration certificate is issued. Thereafter, each member state issues its own national license, usually after receiving payment of fees. 

Medicare A Federally administered health insurance program covering the cost of services for people 65 years of age or older, receiving Social Security Disability Insurance payments for at least two years, or with end-stage renal disease. Medicare consists of two separate but coordinated programs-hospital insurance (Part A) and supplementary medical insurance (Part B). Health insurance protection is available to insured persons without regard to income. 

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