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A consulting agreement with a retainer involves a consultant and a client, where the client pays in advance for consulting services. This upfront payment reserves the consultant for a set number of hours, ensuring their availability. Consultants may charge a retainer based on their work type and personal preferences, often to cover initial business relationship costs and secure payment if the relationship ends unexpectedly. Retainer agreements typically include a minimum deposit or required hours. The video tutorial discusses the nature of consulting retainers, how to create a corresponding agreement, and offers information on obtaining a free consulting agreement.
