Meaning of “interim payment” in the English Dictionary

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"interim payment" in Business English

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interim paymentnoun [ C ]

uk us

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)