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A consulting agreement with a retainer involves an upfront payment from a client in exchange for consulting services. This payment secures the consultant's availability for a set number of hours. Consultants may opt for retainers to cover initial business costs and ensure payment for early efforts, especially if the relationship does not continue. The agreement typically requires a minimum deposit or a predetermined number of hours. Understanding the benefits of retainers and how to draft such agreements is crucial for both consultants and clients seeking reliable consulting services.