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Hourly Retainer Agreement
"I need an Hourly Retainer Agreement for my IT consulting firm based in Sydney to engage a client for 20 minimum hours per month, starting March 2025, with specific provisions for intellectual property protection and data security compliance."
1. Parties: Identifies and provides full details of all parties to the agreement
2. Background: Outlines the context and purpose of the retainer arrangement
3. Definitions: Defines key terms used throughout the agreement
4. Scope of Services: Details the services to be provided under the retainer arrangement
5. Term and Renewal: Specifies the duration of the agreement and renewal terms
6. Fees and Payment Terms: Details the hourly rates, minimum hours, billing increments, and payment terms
7. Billing and Invoicing: Specifies billing procedures, timing, and invoice requirements
8. Obligations of Service Provider: Lists the key responsibilities and commitments of the service provider
9. Client Obligations: Outlines the client's responsibilities and commitments
10. Confidentiality: Details confidentiality obligations and handling of sensitive information
11. Intellectual Property: Addresses ownership and usage rights of any IP created during the engagement
12. Termination: Specifies conditions and procedures for ending the agreement
13. General Provisions: Standard legal clauses including governing law, notices, and entire agreement
1. Non-Compete: Restricts service provider from working with competitors - include when dealing with sensitive industry information
2. Insurance Requirements: Specifies required insurance coverage - include for high-risk or regulated services
3. Performance Standards: Defines specific KPIs or service levels - include when quantifiable metrics are important
4. Dispute Resolution: Details specific dispute resolution procedures - include for high-value or complex arrangements
5. Force Majeure: Addresses unforeseen circumstances - include when service continuity is critical
6. Data Protection: Specific data handling requirements - include when personal or sensitive data is involved
7. Subcontracting: Rules regarding use of subcontractors - include when subcontracting might be needed
1. Schedule 1 - Fee Schedule: Detailed breakdown of hourly rates, including different rates for different types of work or personnel
2. Schedule 2 - Scope of Services: Detailed description of services covered under the retainer
3. Schedule 3 - Key Personnel: List of key personnel assigned to provide the services
4. Schedule 4 - Service Level Requirements: Specific performance metrics and service standards if applicable
5. Appendix A - Timesheet Template: Standard format for recording and reporting time
6. Appendix B - Progress Report Template: Standard format for regular service reporting if required
Authors
Legal Services
Professional Services
Management Consulting
IT Services
Financial Advisory
Marketing and Communications
Business Advisory
Engineering Services
Creative Services
Healthcare Consulting
Environmental Consulting
Human Resources
Architecture and Design
Legal
Procurement
Finance
Operations
Commercial
Risk and Compliance
Business Development
Professional Services
Administration
Contract Management
Legal Counsel
Contract Manager
Procurement Manager
Business Development Manager
Chief Financial Officer
Operations Director
Professional Services Director
Managing Partner
Chief Executive Officer
Risk Manager
Compliance Officer
Practice Manager
Commercial Manager
Finance Director
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