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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 services. A retainer serves to reserve the consultant's time for a specified number of hours and ensures their availability, benefiting both the consultant and the client. Consultants may choose to charge a retainer to cover initial costs and secure payment for their early efforts, especially in case the engagement ends prematurely. The key characteristics of a retainer agreement include a minimum deposit or a predetermined number of required hours from the client. The choice to use a retainer often depends on the consultant's preference and the nature of the work.