Advance payment

An advance payment, or simply an advance, is the part of a contractually due sum that is paid or received in advance for goods or services, while the balance included in the invoice will only follow the delivery. The term "advance" may also refer to a loan.[1]

Under UK social security law, an advance payment may also be made to a person in receipt of Universal Credit.[2]

  1. ^ Morrison Foerster, You Say Advance, I Say Repay – What Does the Court of Appeal Say? Clarification by the Court of Appeal (England and Wales) on Contracts, published 27 November 2018, accessed 11 November 2023
  2. ^ Department for Work and Pensions, Universal Credit advances, updated 20 October 2022, accessed 11 November 2023