Interim Payment
/ˈɪntərɪm ˈpeɪmənt/
Definitions
- (n.) A payment made on account before the final settlement, often in litigation or contractual contexts.
The court ordered an interim payment to cover part of the claimant's expenses pending the final judgment.
Forms
- interim payment
- interim payments
Related terms
See also
Commentary
Interim payments facilitate cash flow and reduce financial hardship before final adjudication or completion of contractual obligations.
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.