[Hidden-tech] Retainer Fees?

[Ron Miller]

Jean makes a valid point. Certainly different professions have different 
arrangements, but I would still caution as a small business person from 
trusting your client to make up hours to you or that the come out in the 
wash. If your client runs into financial difficulties, you could end up 
losing out.

Ron



Janis S. Gray wrote:
>   ** Be a Good Dobee and help the group, you must be counted to post .
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> 
> 
> Thank you, Jeanne. I appreciate your response. And in fact, I do work in 
> a form of public relations... And the one client who has me on retainer 
> (I would not put all my eggs in one basket, either!) sends my check to 
> me automatically -- I do not even send a bill.
> 
> Janis
> ---- Original Message ----- From: "Jeanne Yocum" 
> <jeanne at yourghostwriter.com>
> Cc: <hidden-discuss at lists.hidden-tech.net>
> Sent: Thursday, February 02, 2006 3:49 PM
> Subject: Re: [Hidden-tech] Retainer Fees?
> 
> 
>>   ** Be a Good Dobee and help the group, you must be counted to post .
>>   ** Fill out the survey/skills inventory in the member's area.
>>
>>
>> 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.
>>
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