Hourly Rate Retainer Agreement
Description
How to fill out Mississippi Retainer Agreement With Initial Payment And Hourly Fees - Real Estate Transaction?
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FAQ
Regardless of occupation, the retainer fee funds the initial expenses of the working relationship. For this reason, these types of fees usually remain in a separate account from the hourly wages of the consultant, freelancer, or lawyer.
Attorneys typically charge an average of $100 to $300 an hour, while a consultant may charge $50 to $150. No matter your profession, though, it's good to find a reasonable rate that works with your experience level and your success rate in the industry.
Usually, though, any unused funds are returned to the client once all expenses have been billed and collected out of the retainer.
How to Write a Retainer AgreementStep 1 Acquire Your Copy Of The Retainer Template From This Page.Step 2 Introduce This Retainer, The Service Provider, And The Client.Step 3 Define When Service Must Begin And When It Must Terminate.Step 4 Document The Pay Rate Or Manner Of Compensation.More items...
Multiply the number of hours by your hourly rate to calculate your monthly retainer. For example, multiplying 25 hours by an hourly rate of $107 equals a $2,675 monthly retainer.
