Retainer Fee Agreement Example

A retainer fee agreement is a contract between a client and a service provider that outlines the terms of an ongoing working relationship. Retainer fees are common in the world of freelancing, where clients pay a set amount upfront to secure the services of a professional for a set period of time.

If you`re a freelancer or service provider, it`s important to have a retainer fee agreement in place to protect your interests, ensure clear communication with your client, and help manage your workload. Here`s an example of what a typical retainer fee agreement might look like:

[Company Name] [Address] [City, State, Zip Code] [Phone Number] [Email] [Client Name] [Address] [City, State, Zip Code] [Phone Number] [Email]

Retainer Fee Agreement

This agreement is entered into between [Company Name] (referred to herein as “Service Provider”) and [Client Name] (referred to herein as “Client”) on [Date] (referred to herein as “Effective Date”).

Scope of Work

Service Provider agrees to provide the following services to Client:

[Description of services]

Fees and Payment Terms

Client agrees to pay Service Provider a retainer fee of $[Amount] per [Time Period] for the duration of this agreement. Payments shall be due on the [Date] of each [Time Period]. Service Provider shall invoice Client in advance of each payment due date.

In the event that additional work is requested by Client beyond the scope of services outlined in this agreement, Service Provider will provide a separate cost estimate and scope of work for approval by Client before proceeding.

Term and Termination

This agreement shall commence on the Effective Date and shall continue for a period of [Time Period] unless terminated by either party upon [Notice Period] days written notice to the other party.

In the event that either party breaches their obligations under this agreement, the non-breaching party may terminate this agreement upon [Notice Period] days written notice.

Confidentiality and Intellectual Property

Service Provider shall maintain the confidentiality of all information provided by Client and shall not use such information for any purpose other than performing the services outlined in this agreement.

Ownership of all intellectual property produced under this agreement shall be retained by Client.

Representations and Warranties

Service Provider represents and warrants that it has the necessary expertise and skills to perform the services outlined in this agreement, and that it shall perform such services in a professional and timely manner.

Client represents and warrants that it has the authority to enter into this agreement and to engage Service Provider to perform the services outlined herein.

Entire Agreement and Governing Law

This agreement constitutes the entire agreement between the parties and supersedes all prior understandings, agreements, or representations. This agreement shall be governed by and interpreted in accordance with the laws of the State of [State], and any disputes arising out of this agreement shall be resolved through arbitration in accordance with the rules of the American Arbitration Association.

In conclusion, a retainer fee agreement is an essential tool to manage the relationship between a service provider and a client. By outlining the scope of work, fees, payment terms, and other key details, both parties can ensure a smooth and successful working relationship. Use this example as a guide to create your own customized retainer fee agreement that protects your interests and supports your business.