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A consulting agreement with a retainer requires upfront payment for consulting services. A retainer ensures the consultant is available for a minimum number of hours, regardless of whether those hours are used. Consultants may choose to charge a retainer to cover initial costs and ensure payment for early efforts should the relationship not progress. A retainer agreement typically includes a minimum deposit or a predetermined number of hours. The decision to implement a retainer depends on the workload type and the consultant's preference, providing security for both the client and consultant in their business relationship.
