Upfront Fee

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Upfront Fee

A fee paid before a good is produced or a service is performed. The upfront fee is generally a portion of the total fee that the buyer must pay. For example, one may commission an artist to paint a portrait and pay a 20% upfront fee, paying the remainder when the portrait is finished. It is also called an advance fee.
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Alternatively, firms interested in making a long term investment can take payment for their services in the form of a smaller up front fee combined with an equity interest in a specific venture.