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What is an 'Advance Payment'. An advance payment is a type of payment that is made ahead of its normal schedule, such as paying for a good or service before you actually receive the good or service.
Usage Note: When used as a noun, advance indicates forward movement (the advance of the army) or progress or improvement (an advance in molecular biology). Advancement is usually used figuratively to indicate promotion or movement beyond an established norm: career advancement. Unlike advance, advancement often implies the existence of an agent or outside force.