Retainer Agreement Template For Consulting Services
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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.
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.
What to Include in a Consulting Retainer Contract Scope of Work. Clearly define the project scope and the specific services that you will provide. ... Payment Terms. This section should outline how much you will be paid and the frequency. ... Contract Duration. ... Termination. ... Confidentiality. ... Intellectual Property. ... Disclaimer.
Generally, a consultant calculates a retainer fee by multiplying their hourly rate by the number of hours they predict a project will take them.
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.
