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A consulting agreement with a retainer involves a contract between a consultant and a client that necessitates an upfront payment in exchange for consulting services. A retainer charge reserves the consultant for a set number of hours and ensures availability, regardless of whether or not the client uses all the hours. The decision to charge a retainer depends on the consultant’s work type and personal preference. Consultants often opt for retainers to cover initial costs and secure payment in case the relationship ends prematurely. Retainer agreements typically include a minimum deposit or a predetermined number of required hours for service.
