Advance Payment


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Advance Payment

A payment on an obligation that is paid well in advance. For example, if one pays May's rent in April, the payment is an advance payment. Often, though not always, the advance payment results in a discount on the amount owed. It is also called a payment in advance.
References in periodicals archive ?
As is the case of advance payments, the delay in delivery of vehicles is linked to the benefits forgone by the consumers.
Taxpayer not properly accounting for advance payments recognized long-term contract income at the average contract price for book purposes, it deferred initial recognition of the IAP and included the IAP in income ratably over the term of each agreement.
In total Volvo has 13 versions of the V40 on offer to Motability customers with advance payments rising to PS2,499 for the high grade automatic V40 D3 Cross Country SE which is fitted with a two-litre diesel developing 150bhp.
2004-34 because the advance payments were subject to a condition subsequent and, thus, were considered earned in the year of receipt.
A description of the staffing and infrastructure that the ACO will acquire and / or expand using the funding available through the advance payment model.
Merchants buying on advance payment suffer a loss of profit precisely because of the anticipation.
It found that the retainer at issue constituted an advance payment retainer that became the law firm's property as soon as it was paid, so that it was not subject to the claims of its client's creditors.
Other latest additions include a range of automatics with no advance payment.
Bush in May, families who claimed a credit for a child under 17 in their 2002 tax returns will get an advance payment of up to $400 per child this month.
CSC (NYSE: CSC) reported today on the status of its pending memorandum of understanding (MOU) with the National Health Service (NHS) and the advance payment made by the NHS on April 1, 2011 under the company's Local Service Provider contract with the NHS for development and deployment of an integrated electronic patient records system.
The contract performance must be guaranteed - Advance payment refund guarantee (the Republic of Lithuania or registered in foreign bank or other credit institution guarantee (original) or a parent company guarantee in writing (original ) that came with the surety insurance policy a copy of which is presented together with the advance payment account, the entire advance payment amount.
The ADs will forward the requests of Sugar Mills through their respective Departmental /Business/Group Heads to the Director, Exchange Policy Department, State Bank of Pakistan, Karachi for approval quoting the reference of the circular letter along with the attested / authenticated copies of the documents including clearance issued by the concerned Cane Commissioner to the effect that concerned sugar mill has cleared outstanding arrears of the growers, sugar export contract; EForm and Irrevocable L/C or advance payment voucher, swift message and reporting schedule/credit advice, as the case may be.

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