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A consulting agreement with a retainer involves an upfront payment from a client to a consultant for specific services. This retainer reserves the consultant's availability for a minimum number of hours. Consultants may choose to implement a retainer to cover initial costs and ensure payment for their early work, especially if the client relationship doesn't proceed as planned. Retainer agreements typically include a minimum deposit or predetermined number of required hours. The decision to charge a retainer depends on the consultant's preferences and the nature of the work involved. Understanding how to create a retainer agreement and access free templates can assist in formalizing this business relationship.