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prepayment

/priːˈpeɪmənt/

/priˈpeɪmənt/

prepaymentnoun

prepayments

/priːˈpeɪmənt/

/priˈpeɪmənt/

Translations

The company requires a prepayment before starting the project.

Компания требует предоплату перед началом проекта.

He made an advance payment to secure the booking.

Он внес аванс, чтобы закрепить бронирование.

Definitions

The act of paying for something in advance before it is due.

The prepayment of the loan helped reduce the overall interest costs.

An amount paid in advance for goods or services.

The prepayment for the concert tickets ensured we had the best seats.

The payment of loan principal, in whole or in part, before the scheduled due date.

Making a large prepayment on your mortgage can save thousands in interest.

Synonyms

initial payment

prepaid amount

down payment

advance payment

prepaymentadjective

/ˌpriːˈpeɪmənt/

/ˌpriˈpeɪmənt/

Used attributively before nouns, e.g. "prepayment penalty"

Definitions

Occurring or relating to the payment of money before it is due; paid in advance.

The mortgage includes a prepayment penalty if you pay it off early.

Synonyms

paid in advance