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A consulting agreement with a retainer involves a consultant and a client, where the client pays upfront to secure the consultant's services. A retainer acts as a reserve, ensuring the consultant is available for a specified number of hours. The decision to charge a retainer often depends on the type of work and the consultant's preference, as it helps cover initial costs and ensures payment if the relationship doesn't continue. Retainer agreements typically include a minimum deposit and a predetermined number of required hours for consulting services. Understanding these aspects is crucial for both consultants and clients when entering such agreements.
