Our basic retainer service is a work-for-hire contract. It falls between a one-off contract and permanent employment, which may be full-time or part-time. Its distinguishing feature is that our Client pays in advance for our professional work to be specified in allocated tasks. The purpose of the basic retainer fee is to ensure payment for future services or work to be rendered.
Our basic retainer service may incorporate other contractual provisions regarding the performance of services, or the parties may potentially enter into additional contracts that define the other terms of their working relationship. A retainer fee may be paid on a fixed, pre-negotiated rate or on a variable hourly rate depending on the nature of retainer and also, the skills used by the C&C professional completing the tasks. We use our integrated project management system to report on work completed on detailed timesheets (under the Project tab on your dashboard).
In practice, we invoice the retainer and then deduct hours logged on completing tasks. If the allocated tasks under a basic retainer service are completed within the retained amount, then the balance will be credited to the Client or applied to other fixed rate projects. If the allocated tasks under a basic retainer service can not be completed within the retained amount, then the Client will be requested to top-up the retainer to cover the additional tasks.