Retainer Agreement

• A retainer ship agreement is essentially a work

for hire contract where the monetary
consideration for the work done is paid in
advance.
• A retainer ship agreement encapsulates the
terms and conditions between the parties for the
work/services to be rendered, as also the
consideration, referred to as the ‘retainer’ to be
paid.
• It allows clients and customers to pay in advance
for the services rendered by an individual or a
company’s professionals.
• A retainer ship agreement is required to cement the
mutually agreed terms between the parties with respect
to the work required to be done/services to be
rendered, as also the retainer to be paid.
• Signing a retainer ship agreement ensures clarity
regarding the terms of the arrangement thereby
reducing the risk of a dispute between the parties.
• A retainer can be set up as a one time payment or for a
recurring period.
• It details the different obligations and expectations
involved, which can include ethical work principles,
retainer fees, modes of communication, and professional
ground rules.
• A retainer is defined as a fee that a client pays
upfront to a lawyer before working for the client.
• In most cases, these details are discussed
together before the finalization of the agreement.
Both the client and the lawyer have the right to
negotiate the terms of the legal relationship.
• All specifics, including when the period begins,
the cost per hour of services, the total amount,
the problem, reasons, and remedies are to be
included in this agreement.
• It is designed to protect both the client and the
advocate.
• t lies somewhere along the lines of a permanent
employment contract and a one time, which can
further be either part-time or full-time.
• Such a client-lawyer relationship is extremely
beneficial for businesses that require frequent
legal consultation but lack the funds for hiring a
full-time lawyer. Apart from them, individuals
who are likely to need a lot of legal work might
also consider a lawyer on retainer. 
 Retainer Fee
• A retainer fee is an amount of money paid
upfront to secure the services of a consultant,
freelancer, lawyer, or other professional. It's
most commonly paid to individual third
parties that have been engaged by the payer
to perform a specific action on their behalf.
 General Retainer Agreement
• A general retainer agreement is a formal,
written, and signed contract between a client
and their attorney. By signing the contract,
you as your attorney’s client agree that your
attorney shall represent you while agreeing to
offer their legal services as and when you seek
them.
• A general retainer agreement is most suitable for businesses that deal
with a spectrum of continuous legal needs as opposed to a specific and
solitary legal matter. Such type of agreement offers a plethora of special
benefits:
• Reasonable Cost Structure: Only the initial retainer fee remains due
after the signing of the agreement, as opposed to providing a fresh new
retainer fee every time a specific matter requires legal services.
• Extreme Convenience: A dedicated attorney, available on-call anytime
you require legal aid is a very convenient proposition. By working
closely with you on matters related to your business, a more robust
client-attorney relationship is forever in place.
• Mitigate Risks: As mentioned before, your attorney is available every
time you have any questions, and will proactively help you to cut down
risks while plugging legal disputes from the very beginning via
counsel/advice. Furthermore, you also will not have to look for a new
attorney upon facing a fresh legal problem, while risk-taking a bet on
establishing a new relationship.
Clauses
• Particulars of the parties
• Duration/term of the agreement
• Detailed description of the work required to be
done/services to be rendered
• The ‘retainer’ i.e. the money to be paid
• Terms of payment such as timeframe, mode etc.
• Action to be taken in case of default by either party
• Mode of termination
• Any other details specific to the retainer ship agreement
sought to be executed such as confidentiality clause etc.   
Clauses
• Describe the client, the retainer, and the
services they provide
• Mention the length of service and when it will
expire 
• The amount to be paid or the document that
will be used to make the payment
• The information needed to resolve the
conflicts must be given
Clauses
• Signatures of both the professional and the
client are necessary
Dos & Don’ts
• Avoid using confusing or unclear terms.
• Avoid using complicated languages.
• Requiring clients to pay more than the value
of the service provided should be avoided.
• State all the factors that will lead to the
termination of the agreement.
• State all Provision for resolving disputes.
• State all Proofreading and proper formatting.