/?pri??pe?.m?nt/anarrangementin which aserviceorproductispaidfor, orpartlypaidfor, before it is used orobtained, or theamountthat ispaid:Theymovedinto ahomewith a prepaymentmeterforelectricity.A pre-payment of £50 aspartof therentalcostisrequired.finance & economicsspecializedtheactofpayingadebtbefore it isdueto bepaid, or theamountthat ispaid:There is nopenaltyorfeefor prepayment of aloan.Mostcontractsallowpre-payments of 10 to 20percentof thebalanceeachyearwithoutpenalty.SynonymprepayMore examples
Somepetrolstationsrequireprepayment.
People who havedifficultyinpayingfortheirwatermaypreferto have prepaymentmetersfitted.
Prepayments canerodereturnsif theinvestorisunabletoquicklylendthemoneyagain at asimilarrate.