interim payment

USAGE SUMMARY

The phrase "interim payment" is correct and usable in written English.
It can be used in contexts where a partial payment is made before the final payment is due, often in contracts or financial agreements. Example: "The contractor will receive an interim payment of 50% upon completion of the first phase of the project."

✓ Grammatically correct

Formal & Business

News & Media

Science

Human-verified examples from authoritative sources

Exact Expressions

33 human-written examples

The interim payment alternative is crucially important.

The New York Times

A few months ago, the volunteers received an interim payment of £10,000.

The Guardian

It followed an interim payment of $60.5m made in late July.

The Guardian

They hope for at least an interim payment to support him.

The Guardian

The players have also pressed for a US$6m£1.87m7m) interim payment from the TTFA.

The Guardian - Sport

The judge ordered Ramsay to make an interim payment to Love of £250,000 pending final settlement of the bill.

The Guardian - Lifestyle

Human-verified similar examples from authoritative sources

Similar Expressions

27 human-written examples

Alternatively, claimants can receive "interim" payments for damages as they accrue, without relinquishing their right to sue.

The New York Times

There will be new interim payments for seriously injured soldiers to tide them through before the lengthy claims process.

The Guardian

Meanwhile they're sending loss adjusters to affected areas to deal with claims and arrange emergency help such as temporary accommodation and interim payments.

Independent

Worries about the dividend payments stem from BP classifying the payouts as "interim" payments, which means they do not require shareholder consent.

The Guardian - Business

An additional £30m has been set aside for £2,000 interim payments to widows and between £7,000 and £14,000 to emphysema victims with asthma.

The Guardian

Expert writing Tips

Best practice

When discussing legal or financial matters, use "interim payment" to clearly indicate that the payment is not the final settlement and further adjustments may be necessary.

Common error

Avoid using "interim payment" when referring to a complete and final settlement. "Interim" implies that more payments or adjustments will follow.

Linguistic Context

The phrase "interim payment" functions as a noun phrase, typically acting as the subject or object of a sentence. It denotes a payment that is temporary or provisional, preceding a final or complete settlement. Ludwig AI confirms its correct usage across various contexts.

Expression frequency: Common

Frequent in

News & Media

40%

Formal & Business

35%

Science

15%

Less common in

Wiki

5%

Encyclopedias

0%

Reference

0%

Ludwig's WRAP-UP

In summary, "interim payment" is a common and grammatically correct noun phrase that refers to a temporary or partial payment made before a final settlement. Ludwig AI confirms its appropriateness across various contexts. It is most frequently encountered in news, formal business, and scientific documents, signifying its professional register. When using this phrase, ensure clarity that the payment is not final and that adjustments may follow. Alternatives such as "partial payment" or "progress payment" may be suitable depending on the specific nuance desired.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

Partial payment

Emphasizes that the payment covers only a portion of the total amount.

Interim compensation

Specifically applies to payments made as part of a compensation process before final settlement.

Temporary payment

Highlights the short-term or provisional nature of the payment.

Preliminary payment

Indicates that the payment is made in advance or as an initial step.

Interim reimbursement

Suggests a payment made to cover costs incurred, with a final reconciliation to follow.

Progress payment

Suggests the payment is tied to the completion of specific milestones or stages.

Interim distribution

Refers to a partial disbursement of funds or assets before a final allocation.

Advance payment

Highlights the 'beforehand' or 'ahead of schedule' nature of the payment.

Instalment

Suggests regular, scheduled payments that are parts of a larger sum.

Down payment

Highlights the first payment made when purchasing something on credit.

FAQs

What does "interim payment" mean?

An "interim payment" is a partial payment made before a final settlement or the full amount is due. It's often used in legal, financial, or contractual contexts to provide some funds before all obligations are met.

How is an "interim payment" different from a final payment?

An "interim payment" is a temporary or partial disbursement, while a final payment represents the full and complete satisfaction of a financial obligation. Further adjustments are expected after an interim payment, but not after a final payment.

When should I use the term "interim payment"?

Use "interim payment" when you want to emphasize that the payment is not the last one and that the final amount may be subject to change or further negotiation. Consider alternatives like "partial payment" or "progress payment" depending on the specific context.

What are some synonyms for "interim payment"?

Depending on the situation, you could use terms like "partial payment", "temporary payment", or "preliminary payment". The best choice depends on the nuance you want to convey.