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A consulting agreement with a retainer is a contract between a consultant and a client that involves an upfront payment for consulting services. This retainer fee secures the consultant's availability for a set number of hours, ensuring they are prioritized for the client’s needs. The decision to charge a retainer depends on the type of services and the consultant’s preferences. Consultants often prefer retainers to cover initial business costs and ensure payment in case the relationship ends prematurely. A typical retainer agreement includes a minimum deposit or a predetermined number of hours that the consultant commits to.
