Advances
/ˈæd.vɑːnsɪz/
Definitions
- (n.) Funds paid ahead of time, typically to facilitate performance under a contract or loan agreement.
The company received several advances from the lender before project completion.
Forms
- advance
Related terms
Commentary
In legal usage, 'advances' commonly refers to monetary disbursements made in anticipation of obligations or deliveries; clarity in contracts specifying conditions for advances is advisable.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.