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A consulting agreement with a retainer involves a consultant and a client, where an upfront payment secures consulting services. A retainer charges a fee to reserve a consultant's availability for a minimum number of hours, ensuring they are dedicated to the client. Not all consultants use retainers; their decision depends on the work type and personal preferences. Retainers help consultants cover initial costs and ensure payment for their early efforts, even if the relationship does not continue. These agreements typically include a minimum deposit or a set number of required hours.
