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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.
Preparation, especially publicity, done prior to the appearance of a public figure or the staging of a public event. adj. 1. Made or given ahead of time: an advance payment. 2. Going before, in front, or forward. in advance. Ahead of time; beforehand. in advance of. In front of; ahead of.