Retainer Agreement
A retainer agreement is a contract in which a client pays a fee, often upfront or recurring, to secure a service provider's availability or ongoing services over a period. It defines scope, fees, how the retainer is applied or replenished, and termination terms.
What it means
A retainer agreement establishes an ongoing engagement between a client and a provider such as a consultant, agency, or freelancer. Retainers take two main forms: a "pay-for-access" retainer reserving the provider's availability, and a "pay-for-work" retainer crediting prepaid fees against work performed. Key terms include scope of services, monthly fee, included hours, overage rates, replenishment, unused-balance handling, and notice for termination. Retainers stabilize cash flow for providers and give clients priority access.
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