time is of the essence:

... an expression that emphasizes a time-value, such as in the metaphor: time is money; a boiler plate expression in used in standard legal forms and related documents, such as a real estate agreements. Something said to to hurry a worker along because the job requires performance with punctuality. The expression implies that time has value ... it is an asset not to be waisted.

an expression that emphasizes a time-value; a boiler plate expression in contracts, such as a real estate agreement, that requires performance with punctuality. The phrase is used to hurry someone along in accomplishing a task, often implying that time is money.

Time is money is a metaphor emphasizing the value of time in terms of a currency. Going along with the expression is a principle of finance that makes it acceptable to charge interest. The time value of money, based on its availability in the present and seen as worth more than the same amount in the future due to its earning capacity, explicitly relates time and money. When a supervisor in the workplace says, don't waste time, it can mean two things: Time is of the essence and time is money. Work accomplished and something of value produced as well as money received immediately thereafter are both worth more now.

related: risk; productivity; production; peak persormance; time-line, just-in-time

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