Advance fee, unlike retainers, refers to prepaid amounts that are deducted from the final bill based on the actual work done by a service provider. This guide provides a comprehensive understanding of the term, including its types, special considerations, examples, historical context, applicability, comparisons, related terms, FAQs, references, and summary.
Earned Fee represents the portion of the advance fee that has been justified by the completion of the corresponding amount of work. It's an important concept in various professional services and contractual agreements.
