time bill
A 'time bill' can refer to financial documents related to future payments or billing methods based on time spent on tasks or projects.
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Definition
C1Finance
(technical, international trade)A financial document payable at a specified future date, commonly used in trade to order payment for goods or services.
Example
- The exporter issued a time bill to ensure payment would be made in 60 days.
- A time bill is often used in international transactions to manage cash flow.
B2Project Management
(professional)An invoice detailing the amount of time spent on a project, used to calculate costs based on hours worked.
Example
- The consultant sent a time bill summarizing the hours worked on the client's project.
- Billing by time bill ensures that clients are charged accurately for the hours spent on their tasks.
B2Legal
(professional)A document recording the time spent on legal tasks, used for billing clients by the hour.
Example
- The lawyer prepared a time bill to invoice the client for the legal services provided.
- Accurate time bills help law firms maintain transparency with their clients.
Similar
Terms that have similar or relatively close meanings to "time bill":
bulk billdouble billtime banktime accountbulk billingdivorce billprivate billtriple bill