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Advance definition: Copy, customize, and use instantly

Introduction

The term "Advance" refers to a payment made ahead of time, typically in the context of a contract or financial arrangement. It is essential for setting expectations about the timing of payments, especially in agreements where partial upfront payments are required before the full consideration is due.

Below are various examples of how "Advance" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.

Definition of "Advance" as a prepayment for goods or services

This definition ties "Advance" to an early payment made before the delivery of goods or services.

"Advance" means any payment made in advance of the delivery of goods or the provision of services as agreed between the parties.

Definition of "Advance" as a loan disbursement

This definition connects "Advance" to a sum of money provided ahead of the expected disbursement or repayment schedule.

"Advance" refers to a sum of money provided by one party to another, typically as part of a loan, to be repaid at a later date according to the terms of the agreement.

Definition of "Advance" as an upfront payment for contractual obligations

This definition links "Advance" to an upfront payment made for a contractual obligation.

"Advance" means a payment made prior to the fulfillment of any contractual obligations, which will later be applied against the final payment due under the contract.

Definition of "Advance" as a cash payment before performance

This definition applies "Advance" to a payment made before the recipient has performed any required duties.

"Advance" refers to a cash payment made before the recipient has provided the agreed-upon performance or delivered any goods/services.

Definition of "Advance" as a deposit

This definition connects "Advance" to a deposit paid as part of a larger payment plan or to secure an agreement.

"Advance" means an initial deposit made as a commitment to a larger payment, typically held against future obligations or payments under the agreement.

Definition of "Advance" as an early stage payment in a project

This definition ties "Advance" to an early-stage payment made for a project before substantial work has been completed.

"Advance" refers to a payment made during the early stages of a project or engagement, often to cover initial costs or facilitate the commencement of the project.

Definition of "Advance" as a pre-contractual payment

This definition applies "Advance" to a payment made before the formal execution of a contract.

"Advance" means any payment made prior to the formal signing of a contract, typically to secure the arrangement or initiate the transaction.

Definition of "Advance" as a payment against future earnings

This definition links "Advance" to a payment made ahead of receiving the final compensation, often in employment or performance-based contracts.

"Advance" refers to a payment made against future earnings or commissions, where the recipient agrees to repay or adjust the payment with future compensation.

Definition of "Advance" as a pre-agreed partial payment

This definition connects "Advance" to a partial pre-agreed payment made before full delivery of a service or good.

"Advance" means a portion of the total payment made in advance of full service delivery or goods receipt, as specified in the contract.

Definition of "Advance" as a payment for securing rights

This definition ties "Advance" to a payment made to secure the rights to use or access something before receiving the final product or service.

"Advance" refers to a payment made to secure rights or privileges under an agreement, such as intellectual property rights or a license, prior to final usage or delivery.

Definition of "Advance" as a partial upfront payment

This definition applies "Advance" to a partial upfront payment made towards a larger sum due later.

"Advance" means a partial payment made in advance, typically deducted from the final total due at the completion of the contract or agreement.

Definition of "Advance" as an early financial provision

This definition connects "Advance" to an early provision of financial support or capital.

"Advance" refers to an early provision of funds provided to assist in the financing of an endeavor, which will be repaid or reconciled at a later stage.

Definition of "Advance" as a secured prepayment

This definition links "Advance" to a prepayment that is secured by collateral or guarantees.

"Advance" means a prepayment made for goods or services, secured by collateral or other guarantees, to be applied against future costs or obligations.

Definition of "Advance" as a payment for a future service

This definition ties "Advance" to a payment made for services that will be provided at a later date.

"Advance" refers to a payment made for services that are agreed to be provided in the future, to be credited towards the total cost of the service.

Definition of "Advance" as a payment made by a buyer to a seller

This definition connects "Advance" to a payment made by a buyer to a seller to confirm the sale or transaction.

"Advance" refers to a payment made by the buyer to the seller, typically to secure a sale, confirm an order, or initiate a transaction.

Definition of "Advance" as a commitment payment

This definition links "Advance" to a payment made to confirm a commitment to a deal, project, or agreement.

"Advance" means a payment made as a commitment to proceed with a transaction, deal, or contract, often to indicate good faith and readiness to move forward.

Definition of "Advance" as a payment in installment

This definition applies "Advance" to a payment made as part of an installment plan, often preceding other payments.

"Advance" refers to the initial payment in an installment payment plan, typically made prior to receiving goods, services, or benefits under the agreement.

Definition of "Advance" as a guarantee payment

This definition ties "Advance" to a payment made to guarantee the fulfillment of future obligations.

"Advance" means a payment made in advance to guarantee the fulfillment of obligations, typically held as security for future performance or delivery.

Definition of "Advance" as a partial loan payment

This definition connects "Advance" to a partial payment made towards the total loan amount, often prior to the disbursement of the full loan.

"Advance" refers to an initial payment made as part of a larger loan or credit agreement, with the full amount to be provided at a later date.