UP-FRONT PAYMENT Definition

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UP-FRONT PAYMENT is anything of value, usually money, delivered at the time a contract is signed, e.g. down payment, licensing fees, or closing costs.

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NET PROFIT is the companys total earnings, reflecting revenues adjusted for costs of doing business, depreciation, interest, taxes and other expenses. Same as Net Income.

GARNISH is to take a debtors wages under a legal order, e.g. for child support or an IRS tax liability.

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