prepayable

The customer chooses the prepayable option at the checkout.

Definition

Adjective: "prepayable" describes something that can be paid for in advance, before the goods or services are received or used.

Usage Examples

• (The loan can be repaid before its due date.)
• (The subscription cost must be paid before the service period begins.)
• (Those taxes are due before the tax period ends.)

Advanced Usage

• Prepayable debt: a type of debt that allows the borrower to repay the principal amount before the scheduled maturity date.

  • The company issued prepayable bonds to attract investors seeking flexibility. (The bonds can be repaid early by the issuer.)

• Prepayable service: a service for which payment is required before the service is rendered.

  • Many utility companies offer prepayable plans for customers with variable income. (Customers pay in advance for a set amount of energy usage.)

Variants and Related Words

• Prepay (verb): to pay for something before it is received or used.

  • You can prepay for your parking online. (Pay in advance.)

• Prepayment (noun): the act of paying in advance; the amount paid in advance.

  • The landlord requires a prepayment of three months' rent. (An advance payment.)

• Prepayable (adjective): capable of being paid in advance.

Synonyms

• Payable in advance: due before the service or product is provided.
• Anticipated payment: a payment made before the usual time.

Related Idioms

• Pay up front: to pay the full amount before receiving goods or services.

  • The contractor asked us to pay up front for the materials. (Make a prepayable payment.)

• Cash in advance: a payment term requiring payment before delivery.

  • The supplier demanded cash in advance for the special order. (A prepayable condition.)