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A consulting agreement with a retainer is a contract between a consultant and a client that requires an upfront payment for consulting services. A retainer secures the consultant's availability for a minimum number of hours and guarantees service provision, regardless of whether the hours are fully utilized. Consultants may opt for retainers based on the project's type and personal preferences, often to cover initial costs and ensure payment in case the relationship does not continue. This agreement typically includes a minimum deposit, outlining the preordained number of required hours. The video further explains how to create a retainer agreement and obtain a free consulting agreement template.
