retainer

A retainer is an upfront fee paid to a professional, such as a lawyer or consultant, to secure their services and ensure their availability over a period of time. It acts as a reservation or deposit, guaranteeing that the professional will prioritize your work. The retainer fee can cover initial consultations, ongoing advice, or specific tasks. Usually, as work progresses, the costs incurred are deducted from the retainer, and additional fees may be billed if the work exceeds the retainer amount. This arrangement provides both parties with clarity and security regarding service and payment expectations.