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A consulting agreement with a retainer involves an upfront payment from a client in exchange for consulting services. This retainer essentially reserves the consultant's time for a minimum number of hours, ensuring their availability. The decision to charge a retainer varies by consultant and type of work, often helping consultants cover initial costs and guarantee payment for early efforts if the relationship doesn't progress. Retainer agreements typically outline a minimum deposit or a predetermined number of hours required, differentiating them from non-retainer agreements. The summary also mentions the process of creating this agreement and obtaining a free consulting agreement template.