Down payment

What is Down payment?

Down payment definition and meaning on Dictionary terms:
noun
an initial amount paid at the time of purchase, in installment buying, time sales, etc.
any initial or partial payment, gift, favor, or recompense, as to reduce one’s indebtedness or express one’s obligation or gratitude: This gift is just a down payment for all the favors I owe you.

 

reference: https://www.dictionary.com/browse/down-payment

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