prepaid


prepaid
prepaid pre‧paid [ˌpriːˈpeɪd◂] also pre-paid adjective
1. prepaid amounts are payments for things that you have not yet received:

• The pay phones are designed for phone cards and generate more than $2 billion in prepaid revenues.

— see also freight prepaid
2. FINANCE a prepaid loan is repaid to the lender before the normal time:

• The loan for the dam was prepaid after criticisms of the way the project was financed.

3. a prepaid letter, envelope etc is one where the sender does not have to use a stamp; =POSTAGE-PAID:

• prepaid postcards and toll-free numbers

4. INSURANCE prepaid insurance contracts are to pay for services that may be needed by the insured person in the future:

• Everyone has legal needs and the latest option is a prepaid package from Midwest Legal Services.

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prepaid UK US (also pre-paid) /priːˈpeɪd/ adjective (WRITTEN ABBREVIATION ppd.) COMMERCE
if a product or service is prepaid, it has already been paid for: »

Each advertisement runs six times and is $350 prepaid.

»

Use a prepaid phone card if you're someone who rarely makes long-distance calls.

»

A prepaid plan includes taxes, fees, and surcharges as well as minutes.


Financial and business terms. 2012.