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A retainer agreement is a work-for-hire contract. It falls between a one-off contract and permanent employment , which may be full-time or part-time . [ 1 ] Its distinguishing feature is that the client or customer pays in advance for professional work to be specified later.
Money within the retainer is often used to "buy" a certain amount of work. Some contracts provide that when the money from the retainer is gone, the fee is renegotiated. This is to be differentiated between a retainer in Commonwealth states, where a retainer is the contract that is initially signed by a client to engage a lawyer.
Retainer fees are fixed, typically annual or quarterly payments for ongoing access to financial advisory services. Other pricing models include income-based pricing, which calculates fees as a ...
Retainer sacrifice, the sacrifice of a human servant; Retainer medicine, a relationship between a patient and a primary care physician in which the patient pays an annual fee or retainer; Retention (disambiguation) All pages with titles beginning with Retainer ; All pages with titles containing Retainer
Retainage is a portion of the agreed upon contract price deliberately withheld until the work is complete to assure that contractor or subcontractor will satisfy its obligations and complete a construction project. [1]
A contingent fee (also known as a contingency fee in the United States or a conditional fee in England and Wales) is any fee for services provided where the fee is payable only if there is a favourable result. Although such a fee may be used in many fields, it is particularly well associated with legal practice.
Concierge medicine, also known as retainer medicine, is a relationship between a patient and a primary care physician in which the patient pays an annual fee or retainer. In exchange for the retainer, doctors agree to provide enhanced care, including commitments to ensure adequate time and availability for each patient.
Advance payments made as a loan are generally repayable but this is not always the case. In Leibson Corporation and Others v TOC Investments Corporation and Others, an English Court of Appeal case in 2018, [3] it was established following principles of contractual interpretation that, in the absence of any specific language to the contrary, an "advance" is not always repayable.
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