retainer fees

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Comments (3)

grantwriter in Florida

69 months ago

I am curious about setting retainer fees for grant writing services. How exactly does this work and how does it differ then setting fees with a max hour set? Any information would be greatly appreciated. Thanks

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commonsensegrants in Oxford, Maine

51 months ago

A retainer fee is a payment made by a client to a contractor to be available on-call to that client to provide predefined services over a specified time period. For example, a client may agree to pay you $2000 so that you'll be able to write one or more proposals for it whenever it needs them during the calendar year 2010. The retainer is paid regardless of whether the client actually uses your services and it is paid on top of whatever fee you may charge for writing proposals. Since most seekers of grants have tight budgets and tend to plead poverty, not all clients will be willing or able to work with you on a retainer basis.

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Grant Professor in Windham, Maine

48 months ago

The main idea of a retainer is to retain services in case they're needed within a predetermined period of time; in a way it's a form of insurance for the potential grant seeker. If the retained services aren't needed or used, the retainer is still due to be paid. A retainer can be a good idea if a client wants to ensure future access to the services of a specific consultant....

The idea behind a fee for services, with a predetermined ceiling, is to specify compensation and scope of work for a specific purpose due to be completed and delivered within a predetermined period of time; it usually takes the form of a contract for services.

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