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English definition of “interim payment”

interim payment

noun [C]
 
 
an amount of money that is paid before the total amount of money owed is decided: Workers injured in the fire have not received any compensation other than the interim payments of £10,000 each that were made in April.
FINANCE, STOCK MARKET an interim dividend : It is unlikely that the bank will pay a final dividend for the last financial year or make an interim payment this year.
(Definition of interim payment from the Cambridge Business English Dictionary © Cambridge University Press)
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