down payment
See also: downpayment
English
Noun
down payment (plural down payments)
- (law, finance) A payment representing a fraction of the price of something being purchased, made to secure the right to continue making payments towards that purchase.
- (by extension) Any initial commitment signifying an intention to carry out a larger future commitment, even though no legal rights or obligations are secured.
- 2009, February 5, Barack Obama, My Door is Always Open
- After decades of empty rhetoric, that's the down payment that we need on energy independence.
- 2009 April 4, Barack Obama, NATO summit
- These commitments of troops, trainers, and civilians represent a strong down payment on the future of our mission in Afghanistan and on the future of NATO.
- 2009, February 5, Barack Obama, My Door is Always Open
Synonyms
- (finance): deposit
Translations
payment representing a fraction of the price
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any initial commitment
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