What is a retainer agreement?
A retainer agreement is a contract between a freelancer and a client that outlines the terms of an ongoing working relationship. The client pays the freelancer a set fee upfront, and in return, the freelancer agrees to provide a certain amount of work or services over a specified period of time.
What are the benefits of using a retainer agreement?
Retainer agreements can provide several benefits for both the freelancer and the client. For the freelancer, a retainer agreement can provide a steady stream of income and help them plan their workload more effectively. For the client, a retainer agreement can provide a sense of security and ensure that they have access to the freelancer's services when they need them.
What should be included in a retainer agreement?
A retainer agreement should include the scope of work, the payment terms, the duration of the agreement, and any other relevant details such as the frequency of communication and the process for making changes to the agreement. It's important to be clear and specific about what services the freelancer will provide and what the client can expect in return.
How can I ensure that my retainer agreement is legally binding?
To ensure that your retainer agreement is legally binding, it's a good idea to have it reviewed by a lawyer. They can help you make sure that the terms of the agreement are enforceable and that you're protected in case of any disputes. It's also important to make sure that both parties sign the agreement and that you keep a copy for your records.
Nick Simpson
Founder @ WorkMade
I started working for myself at 9. My first tax bill showed up at 14. I didn’t understand it, and nobody around me could really explain it. If you’ve been there, you get it. Twenty years later, after creative directing for brands in New York and buying and selling a few companies, I kept seeing the same thing: smart, talented people losing money to a system that wasn’t built for how they work. That’s why I built WorkMade. Not to make taxes “easier to understand” but to make them disappear into the background, so you can get on with your life.