Retainer Agreements
A retainer agreement is a contractual arrangement where a client pays a recurring fee to a service provider (e.g., a developer or agency) to secure their availability and services over a specified period. It typically involves a set number of hours or scope of work per month, providing predictable income for the provider and ongoing support for the client. This model is common in consulting, freelance development, and legal services to ensure continuous collaboration.
Developers should learn about retainer agreements when working as freelancers, consultants, or in agencies to establish stable, long-term client relationships and manage recurring revenue streams. They are particularly useful for maintenance, support, or ongoing development projects where clients need regular access to expertise without the overhead of hiring full-time staff. Understanding retainer terms helps in negotiating fair compensation, setting clear expectations, and avoiding scope creep.