There are two different types of retainer agreement. A Classic
Retainer is a fee that’s earned upon receipt. It is used to secure the lawyer’s availability in the future. It is also used to decline retention by any other party who you’re likely to oppose. Under a Classic Retainer, future services will be under a separate engagement agreement with additional fees.
Retainer is a specified fee in exchange for specified services. This type of retainer is an advance on fees. When services provided exceed the advance, additional monies become due from the client. Any unearned fees will be returned to the client.Back To Top