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A consulting agreement with a retainer is an arrangement where a consultant requires an upfront payment from a client for their services. This advance fee secures a commitment from the consultant for a set number of hours and guarantees their availability. Retainers are often preferred by consultants to cover initial costs and ensure payment for their efforts, especially in case the relationship does not continue. The agreement typically includes details about the minimum deposit and the number of hours required. Consultants may choose to charge a retainer based on their work type and personal preference.
