advance payment
Pay before delivery
An advance payment is money paid before goods are delivered or services rendered.
It may cover partial or full cost, securing a commitment from both parties: The contractor required an advance payment before breaking ground.
Distinguished from deposits, which are typically refundable, advance payments usually apply directly toward the final price.
Place for safekeeping
- downpaymentInitial payment toward purchase
- retainerUpfront professional fee
- installmentPeriodic partial payment
- earnestSincerely intense in purpose
escrow · upfront · partial · invoice · remittance · settlement · binder · booking
Security for debt
- suretyBacker of obligation
- bondBinding tie or connection
- pledgeBinding promise given
- lienClaim securing debt
bail · security · indemnity · warranty · underwriting · safeguard · protection · mortgage
Shared position between parties
- obligationRequired task or commitment
- commitmentFirm pledge to act
- undertakingTask one commits to
- stipulationCondition in an agreement
terms · conditions · milestone · deliverable · clause · binding · engagement · arrangement
deposit
Place for safekeeping
- downpaymentInitial payment toward purchase
- retainerUpfront professional fee
- installmentPeriodic partial payment
earnest · escrow · upfront · partial · invoice · remittance · settlement · binder · booking · reservation
collateral
Security for debt
lien · bail · security · indemnity · warranty · underwriting · safeguard · protection · mortgage · insurance
agreement
Shared position between parties
- obligationRequired task or commitment
- commitmentFirm pledge to act
- undertakingTask one commits to
stipulation · terms · conditions · milestone · deliverable · clause · binding · engagement · arrangement
capital
Wealth used for investment
backing · venture · bridge · working capital · liquidity · loan · float · leverage
- paymentscredit cards, debit cards, credit card, debit card, paycheck
- publishingpublishers, editors, editor, publishing house, books
- financial commitmentsloan, mortgage, bond, promissory note, debenture
- payment termspast due, late payments, late fee, late fees, final notice
- prepaymentsdownpayment, deposit, earnest money, prepaid, holding deposit
- UK Benefitshousing benefit, child benefit, income support, child tax credit, state pension
advance paymentdeferred payment
Buying before paying
back payment · cash on delivery · final payment · arrears · COD
advance paymentreimbursement
Payment for incurred expenses
refund · repayment · compensation · indemnification · rebate
payment, advance, advanced, advancement, advancing, prepayment