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Meaning of “part payment” in the English Dictionary

"part payment" in Business English

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part paymentnoun [C or U]

uk   us   (also partial payment) FINANCE
a ​payment that is less than the whole ​amountowed: part payment for sth The ​company received 500,000 ​shares as ​partpayment for the ​sale of its ​transportdivision. We are unable to ​repay the ​debt, but have ​offered to make a ​partialpayment.
(Definition of part payment from the Cambridge Business English Dictionary © Cambridge University Press)
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