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A consulting agreement with a retainer involves an upfront payment from a client to secure the services of a consultant. This arrangement provides the consultant with guaranteed availability for a minimum number of hours, ensuring compensation for initial efforts, especially if the relationship does not continue. Consultants may choose to charge a retainer based on their work type and personal preferences, often to cover upfront costs associated with starting a new business relationship. Retainer agreements typically require a minimum deposit or predetermined hours of service. This summary emphasizes the nature of retainer agreements and their benefits for both consultants and clients.
