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Retainer Fee Agreement
"I need a Retainer Fee Agreement for my IT consulting firm based in Dublin, providing monthly tech support services to corporate clients, with a minimum 12-month commitment starting January 2025 and monthly fees of €5,000."
1. Parties: Identification of the service provider and the client, including full legal names, addresses, and registration details if applicable
2. Background: Context of the agreement and brief description of the parties' intention to enter into a retainer arrangement
3. Definitions: Key terms used throughout the agreement defined for clarity and consistent interpretation
4. Scope of Services: Detailed description of the services to be provided under the retainer arrangement
5. Retainer Fee and Payment Terms: Specification of the retainer fee amount, payment schedule, and what services are covered under the retainer
6. Term and Renewal: Duration of the retainer agreement and provisions for renewal or extension
7. Obligations of the Service Provider: Detailed responsibilities and commitments of the service provider
8. Obligations of the Client: Client's responsibilities and commitments, including timely payment and cooperation
9. Confidentiality: Provisions for handling confidential information shared during the engagement
10. Termination: Circumstances and procedures for ending the agreement
11. Governing Law and Jurisdiction: Specification of Irish law as governing law and jurisdiction for dispute resolution
1. Data Protection: GDPR compliance provisions, required when personal data will be processed
2. Intellectual Property: IP rights provisions, needed when services involve creation of intellectual property
3. Non-Compete and Non-Solicitation: Restrictions on competition and client solicitation, useful for sensitive professional services
4. Force Majeure: Provisions for unforeseeable circumstances, recommended for long-term retainers
5. Professional Indemnity Insurance: Insurance requirements and coverage details, important for regulated professions
6. Dispute Resolution: Alternative dispute resolution procedures, recommended for high-value retainers
7. Assignment and Subcontracting: Rights to transfer obligations or use subcontractors, needed if relevant to service delivery
1. Schedule 1 - Detailed Service Description: Comprehensive list and description of services covered under the retainer
2. Schedule 2 - Fee Schedule: Detailed breakdown of retainer fees, hourly rates for additional services, and payment terms
3. Schedule 3 - Service Levels: Performance metrics and service level commitments
4. Schedule 4 - Key Personnel: List of key team members assigned to provide the services
5. Appendix A - Communication Protocol: Procedures for routine communications and escalations
6. Appendix B - Reporting Requirements: Format and frequency of progress reports and performance updates
Authors
Legal Services
Professional Services
Consulting
Financial Services
Information Technology
Marketing and Advertising
Accounting and Tax
Business Advisory
Healthcare
Engineering
Architecture
Management Consulting
Legal
Finance
Procurement
Operations
Commercial
Compliance
Risk Management
Business Development
Account Management
Professional Services
Executive Leadership
Legal Counsel
Contract Manager
Chief Financial Officer
Procurement Manager
Business Development Manager
Account Manager
Operations Director
Professional Services Director
Compliance Officer
Finance Manager
Managing Partner
Chief Executive Officer
Commercial Director
Risk Manager
Project Manager
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