[Hidden-tech] Retainer Fees?

[Jeanne Yocum]

Hi,

Different professions have different fee arrangements, so I think a blanket
statement that suggests that none of us should ever agree to work in this
fashion is unwise advice.  Monthly retainer arrangements are extremely
common in some fields, such as public relations.  And being paid by retainer
does not mean you don't have a contract.  You can have a contract that
explains the retainer arrangement.

One other suggestion I thought of after I wrote my original response on this
topic is that I expect retainer clients to pay in less than 30 days.  Thus,
to receive a retainer on the first of the month, I bill them 10 to 15 days
in advance and specify that the payment is due on the first of the month
being covered by the retainer.

When the retainer comes in around the first, I've already got their money in
the bank for the coming month.  I think this is a fairly common way to do
it, but I just thought I'd add it in for the folks who haven't done retainer
billing before.  I have never had a client say they weren't willing to pay
within a shorter time frame as part of the retainer arrangement.

Jeanne Yocum

> From: Ron Miller <ronsmiller at comcast.net>
> Date: Thu, 02 Feb 2006 11:32:43 -0500
> To: "Janis S. Gray" <jsgray at crocker.com>
> Cc: hidden-discuss at lists.hidden-tech.net
> Subject: Re: [Hidden-tech] Retainer Fees?
> 
> I would never agree to work in this fashion. Number one, you should
> *always* have a contract. I don't care how well you think you know your
> client. You are running a business and without a contract, if anything
> goes wrong, you have no legal protection whatsoever.