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What to include in a consultant retainer contract? The project scope, goals, and desired outcomes. Key financial metrics used to determine success. Description of the services you will provide. Whether you are using pay for work or pay for access model. Expected return on investment (ROI) Responsibilities of both parties.
How to set up a retainer agreement Hourly. Offer the client a specific number of hours of work per month. ... By deliverable. Promise to deliver a set number of ?products? or ?services? per month. ... For access. In some instances, a client might pay a monthly fee for access to your services.
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.
The basic structure of retainer agreements is the same though: Agency agrees to provide a service(s) or a number of hours their client needs each month. In turn, the client agrees to the retainer payment that they'd pay in exchange for the agency reserving its time/service for them.
A retainer agreement is a contract between a client and a professional who requires an upfront payment applied to future work. A retainer can be set up as a one-time payment or for a recurring period. The agreement will detail compensation, hours, contingencies, and any other terms for the services provided.