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When a payment is made for a portion of the claimed amount, it is referred to as a partial payment. Part payment, down payment, upfront payment, and installment payment are other names for partial pay.
Customers gain from partial payment since it permits use of the items prior to full payment. Customers can also obtain services without making full payment until after the job is finished. Partial payment helps businesses since it gives customers more purchasing power. Offering partial pay also means that the company gains from getting a portion of the project's initial payment.