Retainer

Definition

Ongoing payment arrangement where client pays set amount monthly for reserved time or services.

Related Terms

Contract

Legal agreement outlining project terms, payment, deliverables, and responsibilities.

FAQs

What's a retainer?

Monthly payment for ongoing availability or work.

Benefits of retainers?

Predictable income; strong client relationships.

Similar Terms

Payment Terms

Conditions specifying when and how payment is due, like Net 15 or 50% upfront.

Scope Creep

Gradual expansion of project requirements beyond original agreement without additional compensation.

Revision

Changes or modifications requested by client to completed work, often limited in contracts.

Deliverable

Specific item or output provided to client upon project completion.

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Last updated: January 18, 2026

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