What are the differences between retainer and project fees?
An example of an AI chatbot conversation about retainer vs project fees in service agreements.
What are the differences between retainer and project fees?
Retainer fees are ongoing payments for continuous services, while project fees are one-time payments for specific tasks.
Can you give me examples of when to use each type?
Sure! Use a retainer for ongoing support like marketing services, and project fees for one-off tasks like website design.
Which option is more cost-effective for long-term projects?
Retainers can be more cost-effective for long-term projects as they often provide a lower hourly rate and guaranteed availability.
Are there any downsides to using a retainer?
Yes, if your needs change, you might end up paying for services you don't use. It's important to assess your requirements.
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