Retainer
A retainer is an advance payment that secures a professional's availability.
A retainer is paid upfront to reserve a service provider's time over a period — common with lawyers, agencies, and consultants. It may be a flat access fee or a deposit drawn down against work performed. The agreement should state what the retainer covers and what happens to unused amounts.
Example
A startup pays its law firm a $5,000 monthly retainer covering up to 10 hours of legal work.
Related terms
Frequently asked questions
Is an unused retainer refundable?
It depends on the agreement. Non-refundable retainers pay for reserved availability; refundable ones act as deposits against future work. The contract must say which it is.
How is retainer work invoiced?
Either the retainer invoice itself covers the period, or you invoice for work done and apply the retainer as a credit. Show the running retainer balance so the client always knows where they stand.
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