A withholding fee is a payment that a client makes to a professional, often a lawyer, for future services. Retention fees do not guarantee a result or a final product. A retention agreement is a long-term contract employment contract between a company and a client for which you contract your ongoing services (such as a consulting firm) and provides you with a stable amount of payments. It differs from other pricing models in the sense that the customer pays for professional work in advance.
which will be determined later. An attorney's fee is the fee the client pays in advance to guarantee an attorney's services. They reserve the time and experience of an attorney, making them accessible to the client for an agreed time. They also provide the peace of mind that the client has dedicated legal representation when they need it.
The amount of the withholding fee may vary and can be a flat rate or an hourly rate. Retainers are structured agreements in which the client undertakes to pay a specific amount of money to a company or to a freelancer, usually on a monthly basis, and, in return, receives a set of services during that same period of time. Additional services that are beyond the scope of an advance payment are billed as ad hoc work.