Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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  • Advance Payment

    Payment agreed upon disbursement between buyer and seller made prior to the delivery of the contracted goods or services. Payment may be for a stated amount or for a percentage of the purchase price. See also: Partial Payment, Progress Payments.

    See Also: Partial Payment, Progress Payments
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