A payment made for goods when they are ordered and before they are delivered. (source: http://www.qfinance.com/dictionary/payment-in-advance)

A series of payments that a buyer makes instead of a lump sum to compensate the seller. Installment payments often, but do not always, include

Payment made in the form of goods and services, rather than cash. (source: http://www.investorwords.com/3637/payment_in_kind.html#ixzz2SdBkI8X1)

A payment bond is a surety bond posted by a contractor to guaranty that his subcontractors and material suppliers on the project will be paid.

A debt which has been incurred and will be paid back at some point in the future. (source: http://www.investorwords.com/1365/deferred_payment.html)