Definition of Prepayment:

Payment refers to the settlement of an account or the payment of a service or product before the due date. Insurance can be prepaid with payment of premium before the commencement of insurance.

It is also known as prep.

Prepayment definition is: Payment is an accounting term for the settlement of a loan or debt installments before government maturity. Payments are invoices, operating expenses or non-operating expenses payments that settle the account before the due date. Payment is an action taken by an individual, company or any other type of organization.

Repay the loan before maturity. See prepaid questions.


What Does Prepayment Mean?

  1. Prepay is related to account settlement or payment of service or due date. Depending on the coverage, the insurance premium may be prepaid.

    It is also called prepaid.

  2. Definition of Prepayment: Prepay is an accounting term for the settlement of loans or credit in installments, regardless of government maturity. Prepay is a payment for operating or non-operating expenses that reimburses the account on maturity. Prepayments are actions taken by individuals, companies or other types of organizations.

  3. Pay off debts, regardless of whether it is a debt. See related prepay questions.


Definition of Prepayment:

Prepayment means, Prepayment is an accounting term for repaying loans or loans in installments before their official maturity. A prepayment can be an entire payment, a business expense, or a non-business expense that closes the account on a due date. Advance payments can be made through individuals, companies or other types of contracts.

Debt settlement, regardless of whether it is a loan. See related prepay questions.