Definition of prepayment in English:

prepayment

noun

  • See prepay

    • ‘There are, however, times when prepayment is unavoidable.’
    • ‘Postage stamps were originally construed as prepayment for the service of transporting letters and packages.’
    • ‘When mortgage rates plunge and homeowners refinance, investors receive large amounts of prepayments, which must be reinvested at lower yields.’
    • ‘The University of Berkley offers associate, bachelor's, master's, and doctoral degrees for a flat installment rate with a discount for prepayment.’
    • ‘Single service providers may refuse medical insurance reimbursements or require prepayments from patients.’

Pronunciation

prepayment

/priːˈpeɪm(ə)nt/