Simple English definitions for legal terms
Read a random definition: surrender by operation of law
An advance payment is when you pay for something before you actually get it. This can happen when you know you will owe money in the future, but you want to pay some of it now. For example, if you want to buy a toy that costs $10, but you only have $5 right now, you might make an advance payment of $5 to the store and promise to pay the other $5 later. Advance payments can also be made for things like rent or services that will be provided in the future.
An advance payment is a payment made in anticipation of a future liability or obligation. It is a payment made before the goods or services are delivered or before the work is completed.
These examples illustrate how an advance payment is made before the goods or services are delivered or before the work is completed. It is a way for the seller or service provider to ensure that they will be paid for their work or product, and it is a way for the buyer to secure the goods or services they need.