Retainer/Deposit Clause Samples
A Retainer/Deposit clause establishes the requirement for the client to pay an upfront sum before services commence. This payment is typically held by the service provider and may be applied toward future invoices or held as security against non-payment or cancellation. By requiring a retainer or deposit, the clause ensures the provider is compensated for reserving time or resources and reduces the risk of financial loss if the client fails to follow through with the agreement.
POPULAR SAMPLE Copied 8 times
Retainer/Deposit. Client shall, at the commencement of this Agreement, deposit with Rivet a retainer in the amount of Dollars ($ ) (the “Retainer Deposit”). Such Retainer Deposit shall be held by Rivet and may be applied, at its option, against any unpaid Fees or Costs which are the responsibility of Client under this Agreement. Rivet reserves the right to require additional Retainer Deposits from Client, based on the scope of Rivet’s Services for Client at any particular time. Any unused portion of the Retainer Deposit shall be refunded to Client within thirty (30) days after Termination of this Agreement.
Retainer/Deposit. For Office customers, retainers are calculated at least two-times the highest agreed monthly fee during the term, unless otherwise agreed in writing. For Virtual Office and Co-Working customers, retainers are calculated at least one-time the highest agreed monthly fee during the term, unless otherwise agreed in writing. Top-up retainers are charged automatically to meet the minimum amount for each product which is calculated upon renewal or when moving to a different office. For security, We will only return retainers/ deposits via bank transfer or ACH, which may request via your online account.