In corporate personnel matters, advance is cash made available by a company to a staff member before it is actually earned or expenses are incurred. Examples are advances made for medical purpose, purchase of a consumer durable and travel.
In transactions of securities, it refers to upward movement in the price of assets such as commodities, stocks and bonds .
In trade, it is payment for goods and services that are not yet in the hands of the buyer.
advance -- a loan made by a Federal Home Loan Bank to a member financial institution.
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