**Termajargon:** Policy Terms Defined

# Advance payment

An advance payment is a partial payment of the total purchase price that helps the business for the actual expenses during the performance of a service or the provision of goods. For example, an advance payment would occur when a house painter asks for a payment of $500.00 to purchase paint and where the remainder of the purchase price is paid upon the completion of the job.

## Learn More About Advance payment

**[What is a Terms of Service agreement?](https://termageddon.com/what-is-a-terms-of-service-agreement/)**

Related Terms:

**[Deposit](https://termageddon.com/define/deposit/)**

**[Third-party payment processor](https://termageddon.com/define/third-party-payment-processor/)**

**[Terms of Service](https://termageddon.com/define/terms-of-service/)**

"I recommend Termageddon to my Customers and legal colleagues, because they are the **only** Terms of Use, Privacy, and Cookie Consent generator I know that not only maintains up-to-date EU & UK GDPR, Canada, Australia (international) policies, but U.S., state specific changes which are numerous and changing on almost a daily basis."

Rian Kinney

Esq. CIPP/E and CIPM

## The most **comprehensive** website policies generator on the market.

Use Termageddon to help comply with privacy laws such as the CPRA, GDPR, UK DPA, CalOPPA, PIPEDA, and more. We also help you comply with consumer protection laws, provide eCommerce disclosures, and limit your liability.

[Learn More](https://termageddon.com/policies/)