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A consulting agreement with a retainer is a contract between a consultant and a client requiring an upfront fee in exchange for consulting services. A retainer charge reserves the consultant for a set number of hours and ensures their availability, regardless of whether the work is utilized. The decision to charge a retainer typically reflects the nature of the work and the consultant's preference, helping to cover upfront costs and guaranteeing payment for initial efforts if the relationship does not succeed. Retainer agreements often include a minimum deposit or predefined number of required hours.
