Fees due when Matched or at Placement?

Were your final adoption fees due at placement or when matched? We've narrowed it down to two agencies. They are very identical stat wise (fees, placements, etc.). One is a large national agency and the other is a small local agency. The large agency's fees are due when placed and the small agency's fees are due when matched. I'm thinking that it would be more advantageous to pay the final fees when placed? I asked about the refunding of fees and the large agency said that final fees aren't due until parental rights have been terminated so there's no need for a refund (that seems contrary to what I've read from many on this board?). The small agency said that CURRENTLY their fees (excl home study, etc) are fully refundable. They are looking at possibly keeping some portion in the future. Any advice?