down payment
Meaning
- A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.
- (broadly) Any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured.
Synonyms
monetary deposit
first instalment
initial deposit
initial outlay
contract money
cash down payment
initial payment
down paryment
part payment
Notes
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