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A consulting agreement with a retainer involves upfront payment for consulting services between a consultant and a client. This retainer ensures the consultant is reserved for a minimum number of hours and guarantees availability, regardless of whether the retainer is fully utilized. Consultants may charge a retainer to cover initial costs and secure payment for their efforts if the relationship doesn't continue. The specifics of a retainer agreement include a minimum deposit or predetermined number of required hours. The decision to charge a retainer often depends on the type of work and the consultant's preferences.