Prepay
/ˌpriːˈpeɪ/
Definitions
- (v.) To pay for goods or services in advance of receipt.
The tenant agreed to prepay the rent for six months.
Forms
- prepays
- prepaying
- prepaid
Related terms
See also
Commentary
Common in contracts to clarify timing of payment obligations, ensuring funds are received before performance.
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.