Retaining Consulting Agreement With Retainer
Description
How to fill out Agreement Or Contract Retaining Architect For Consulting Purposes?
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FAQ
A retainer fee is a sum that a client pays to a consultant to secure their services. Clients usually pay these fees upfront before consulting services begin. Although many consultants require full payment before they begin working, a retainer fee can also be a small sum that clients pay to secure service.
What to Include in the Monthly Retainer Proposal Template Project Scope. The client first and foremost wants to know what they'll be getting for their money. ... Payment Details. In this section, detail the compensation you'll be getting each month. ... Timelines. ... Certifications and Qualifications. ... Terms and Conditions.
Generally, a consultant calculates a retainer fee by multiplying their hourly rate by the number of hours they predict a project will take them.
Retainer fees are often based on the rates you would charge under other payment models. For instance, if you charge $100 per hour for your services and typically work 40 hours per week for clients, you would likely look to charge a $4,000 monthly retainer.
The retainer proposal will typically include details such as the scope of work, deliverables, timeline, fees and payment schedule. It should also outline any additional expenses or costs that may be incurred during the course of the engagement.