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"What Is a Retainer Fee?"

The term ‘retainer fee’ is used to describe an amount of money that is paid upfront in order to retain the services of another individual.

Examples of this could be someone acting in an advisory capacity, legal services, a freelance writer or someone acting as a consultant.

While the retainer is essentially used to hire an individual, it doesn’t represent the entirety of the fees. Other fees will be accumulated throughout the process. It also doesn’t necessarily guarantee that the outcome will be positive.

An example of this would be when a defendant in a court case retains the skills of an attorney. They pay the retainer fee and the attorney offers their skills and advice in relation to the case, but this doesn’t automatically guarantee that a defendant will be able to win.

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