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Client retainer requirement
explained by a lawyer
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A Retainer is
a down payment for future services rendered. From the initial
consultation, a lawyer knows many facts about your situation. Based on
those facts and past experience in dealing with similar cases, a lawyer
has an idea of how many hours of work it will take to provide the
service. A retainer is really the estimate in billable hours at the
hourly rate. For example, an attorney charging $150/hour estimates that a
case will take 10 billable hours of work may ask for a retainer of
$1,500. As consumers, we all want to know what something will cost in the
end. Lawyers use retainers to provide that information to their client.
We all want to get paid for the work that we do, whatever our profession.
A retainer makes sure that the lawyer will get paid for the work that is
performed for a client. Aside from using a credit card, loan or line of
credit, most businesses require you to pay for services or merchandise in
advance or at the time that the merchandise is received.
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