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A consulting agreement with a retainer involves an upfront payment from a client to a consultant for secured services. This retainer reserves the consultant for a set number of hours and ensures their availability, regardless of whether those hours are utilized. Consultants may choose to charge a retainer to cover initial business costs and to secure payment in case the relationship doesn't continue. The specifics of retainer agreements typically include a minimum deposit or a predetermined number of required hours to be worked. Understanding these elements is essential when creating such an agreement or seeking a free template.