Pre-Payment
Type: noun
Pronunciation: /pree-pay-ment/
Also spelled or known as: Advance Payment
Plural: Pre-Payments
Related: Advance
What does Pre-Payment mean? Money paid before goods, services, or royalties are fully earned.
In music, pre-payments may apply to licenses, recording budgets, manufacturing, advances, or tour services.
Pre-Payment synonyms: Advance, Advance Payment, Upfront Payment, Early Payment, Upfront Royalties, Front-End Royalties
Example sentence: “The license required a pre-payment before release.”
PRE-ORDER RECORDING BUSINESS DICTIONARY