Other forms: prepayments
If you cover the cost of something in advance, you make a prepayment. Renting a vacation house for a month might require a week's prepayment.
Paying for something before you actually have it (or use it) is prepayment. If you sign up for a class that requires prepayment, it means you'll send the money ahead of time, rather than bringing cash with you on the first day. Prepayment and prepay were first used in the mid-19th century, originally referring to postage — before the norm became prepayment by the sender, mail was often paid for by the person receiving it.