7.13 Advance Fees

The payment by a principal to the Company prior to the performance of services is known as an Advance Fee. All Advance Fee arrangements must be pre-approved by the Manager or Broker and in some cases by the State regulator. You may not propose or accept an Advance Fee without the express approval of your Manager or Broker, and the prior written approval of the Advance Fee arrangement and materials approval by the State regulator, if required.