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Generally, a consultant will ask for 100 percent of the retainer fee in advance. Some consultants set it up so a client pays retainer fees at periodic intervals, such as monthly, quarterly or semiannually. In that case, the client would pay a portion of the total retainer fee at each billing cycle.
To summarize what is a retainer agreement, it can be structured in several different ways:Client pays a set amount each month to access a certain amount of time.Client pays a set amount each month for a specific set of deliverables.Client pays simply to have access to the freelancer.
A retainer agreement is a long-term work-for-hire contract between a company and a client that retains ongoing services from you (as a consulting business) and provides you with a stable amount of payments.
What is a consulting retainer? A consulting retainer is a fixed sum of money paid in full, upfront to hire a consultant for an allotted period of time. It's a pricing model that covers a consultant's assistance with specific deliverables or expertise to guide more general operations.
A consulting retainer is a fixed sum of money paid in full, upfront to hire a consultant for an allotted period of time. It's a pricing model that covers a consultant's assistance with specific deliverables or expertise to guide more general operations.