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  2. Dictionary

    prepayment
    [ˌprēˈpām(ə)nt]
    definition
    1. noun form of prepay
    pre·pay
    [ˌprēˈpā]
    verb
    prepay (verb) · prepays (third person present) · prepaid (past tense) · prepaid (past participle) · prepaying (present participle) · pre-pay (verb) · pre-pays (third person present) · pre-paid (past tense) · pre-paid (past participle) · pre-paying (present participle)
    1. pay or pay for in advance:
      "many tax professionals have been advising their clients to prepay the bills" · "I had prepaid the tickets"
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    Prepayment is an accounting term for the settlement of a debt or installment loan in advance of its official due date. A prepayment may be the settlement of a bill, an operating expense, or a non-operating expense that closes an account before its due date.
    www.investopedia.com/terms/p/prepayment.asp
    prepayment noun [ C or U ] (also pre-payment) us / ˌpriːˈpeɪ.mənt / uk / ˌpriːˈpeɪ.mənt / an arrangement in which a service or product is paid for, or partly paid for, before it is used or obtained, or the amount that is paid:
    dictionary.cambridge.org/us/dictionary/english/prep…
     
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