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A consulting agreement with a retainer is an arrangement where an individual pays a consultant upfront for services, reserving their availability for a minimum number of hours. This payment ensures the consultant is committed to the client, regardless of actual hours worked. The decision to charge a retainer varies based on the consultant's preferences and the nature of the work. It often helps consultants cover initial costs and guarantees payment for early efforts if the relationship doesn't continue. A retainer agreement typically involves a minimum deposit or a predetermined number of required hours, distinguishing it from agreements without retainers.