An advance payment or advance money is a partial amount that is paid to the seller before the delivery of the products or services bought by him or her. The remaining due amount is paid once the delivery has been made or at a later date stated in the legal contract. The advance payment is a contractual amount of funds that is paid in advance as part of the terms and conditions of the contract. Advance cash receipt a legal or formal document that is issued by the seller upon receiving the advance payment from the customer.
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