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Retainer Fee Agreement
"I need a Retainer Fee Agreement for my technology consulting firm based in Ontario, providing ongoing IT infrastructure services to medium-sized businesses, with monthly retainer payments of $5,000 and quarterly service reviews."
1. Parties: Identification of the service provider and the client, including full legal names and contact details
2. Background: Context of the agreement and brief description of the professional relationship being established
3. Definitions: Key terms used throughout the agreement and their specific meanings
4. Scope of Services: Detailed description of the professional services to be provided under the retainer
5. Retainer Fee and Payment Terms: Amount of retainer, payment schedule, replenishment terms, and handling of unused retainer amounts
6. Billing Practices: Hourly rates, billing increments, expenses, and invoicing procedures
7. Client Obligations: Client's responsibilities including providing information, cooperation, and timely communication
8. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
9. Confidentiality: Obligations regarding confidential information and client privacy
10. Professional Standards: Commitment to maintain professional standards and comply with relevant regulations
11. Governing Law: Specification of applicable law and jurisdiction
12. Entire Agreement: Statement that the document represents the complete agreement between parties
1. Conflict Resolution: Procedures for handling disputes, including mediation or arbitration provisions. Include when dealing with high-value or complex engagements
2. Insurance: Professional liability insurance details. Include when required by regulatory bodies or client policy
3. Intellectual Property: Rights to work product and materials. Include when services involve creation of intellectual property
4. Non-Exclusivity: Clarification that the agreement is non-exclusive. Include when provider serves multiple clients in similar industry
5. Force Majeure: Provisions for unforeseen circumstances. Include for long-term or high-risk engagements
6. Assignment: Rights to transfer or assign the agreement. Include when working with larger organizations
1. Schedule A - Fee Schedule: Detailed breakdown of hourly rates, flat fees, or other fee arrangements
2. Schedule B - Scope of Services: Detailed description of specific services included in the retainer
3. Schedule C - Billing Guidelines: Specific billing procedures, expense policies, and payment terms
4. Appendix 1 - Service Level Standards: Performance metrics and service standards, if applicable
5. Appendix 2 - Team Members: List of key team members and their roles, if applicable
Authors
Legal Services
Professional Services
Consulting
Accounting
Financial Services
Business Advisory
Technology Services
Marketing Services
Engineering Services
Healthcare Services
Architecture
Human Resources
Legal
Finance
Procurement
Operations
Compliance
Business Development
Client Relations
Professional Services
Contract Administration
Risk Management
General Counsel
Legal Director
Chief Financial Officer
Managing Partner
Business Development Manager
Contract Manager
Finance Director
Professional Services Manager
Procurement Manager
Operations Director
Compliance Officer
Account Executive
Project Manager
Business Manager
Client Relations Manager
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