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of <h1>Understanding 'Advance': Moving Forward, Providing Funds or Goods on Credit, Expecting Reimbursement or Return</h1> Advance, as defined in Black's Law Dictionary, 6th Edition, refers to moving something forward in position, time, or place. It involves paying money or providing value before it is due, such as furnishing capital for a project with the expectation of a return. It can also mean supplying goods or funds on credit or before delivery, with the understanding that the equivalent will be returned. This term encompasses providing money or goods for others with the expectation of reimbursement, serving as a financial aid or loan for specific purposes agreed upon by the parties involved.
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