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A consulting agreement with a retainer involves a consultant and a client, requiring upfront payment for services. The retainer secures the consultant's availability for a minimum number of hours. The decision to charge a retainer depends on the consultant's work type and preference; it's often used to cover initial business relationship costs and ensure payment if the relationship ends prematurely. In a retainer agreement, there’s typically a minimum deposit or a predefined number of required hours. This arrangement provides a financial cushion for consultants and guarantees their commitment to the client.
