A retainer is paid in advance, for legal services that will be rendered. When you talk to an attorney about a retainer you may discuss one of three different types: General retainers are fees for a specific period of time, not a specific project. Generally, this period is six to 12 mont...
A retainer's agreement is a contract entered into by two or more parties for the purpose of securing future services. These future services may be...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
What is a limited partnership investment? What is an LLC operating agreement? What is a public partnership LLC? What is a general partner in a limited partnership? What is a retainer agreement? What is the purpose of a guarantor? What kind of contract is a marriage considered?
In general, this type of retainer agreement is utilized in a corporate business setting. Contents What Is a Fee Agreement? What Are the Benefits of Retainers? What Are Examples of Other Fees Outside a Retainer Fee? What Are Unearned and Earned Retainer Fees? Is It Possible to Recover ...
A classic example of a retainer fee is in legal services. Lawyers often require a general retainer for their availability over a certain period. This gives the client security in knowing they’ll have legal help as matters arise. The initial retainer often covers a maximum number of hours of...
A down payment is the first payment made when buying something on credit. The payment is a percentage of the item or service’s full ticket price. Many property purchases require a down payment. When a business pays a contractor on retainer, they are paying them in advance for an agreed ...
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However, determining a fair retainer and royalty rate can be difficult, and the retainer might not fully cover the service provider’s costs. This type is typically not suitable for projects with uncertain outcomes. However, it does work well for projects where there is some upfront work but ...