Define: Customer Advances

How is Customer Advances defined in a legal contract?

• Customer Advances means amounts collected during business operations that are unearned as they are for services that will be provided in the future. Seen in 5 SEC filings
• Customer Advances means all such Customer Advances. Seen in 4 SEC filings
• Customer Advances means all deposits and prepayments by customers relating to services to be performed or products to be delivered after a certain date. Seen in 2 SEC filings
• Customer Advances means, as of any date, the combined amount of payments received as customer deposits and unearned advance payments from customers for future services or fees. Seen in 2 SEC filings
• Customer Advances means, as of any date, the total amount of payments received as deposits from customers. Seen in 2 SEC filings
• Customer Advances means amounts that customers of retail operations owe for sales of fixtures and equipments which have been outstanding for more than a certain number of days. Seen in 2 SEC filings
• Customer Advances means amounts recorded as customer advances and advance receipts, for which cash payment has actually been received from a contract with a customer. Seen in 2 SEC filings
• Customer Advances means advances made by customers for business-related construction projects, which are to be refunded either wholly or in part. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of customer advances' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Customer Advances means funds collected in advance, for services or goods due to be provided in the future.

Relevant Contract Types

• Service Contracts
• Sales Contracts
• Subscription Agreements

Relevant Circumstances

• Long term service provisions
• Instances with customer payment before delivery
• Any transactions requiring advance payments

Relevant Sectors

• Consulting
• Retail
• Software Services

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Genie Definition 2

Customer Advances means overdue payments from customers, for equipment or fixtures previously sold.

Relevant Contract Types

• Supply Contracts
• Equipment Lease Contracts
• Sales Contracts

Relevant Circumstances

• Sales of equipment or fixtures
• Transactions with payment delays

Relevant Sectors

• Manufacturing
• Retail
• Construction

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