retainer

retainer definition - business

retainer

A fee paid in advance for future services. For example, a business too small to afford a full-time attorney assures that it will have legal representation by paying a retainer to a law firm.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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