Retainer fee

Retainer fee – This term is formed from the words “retain” (hold, preserve) and “fee” (payment, reward). In the legal practice – for example in the conveyance procedures this legal term details the legal fee (in full or part of it), paid in advance to a lawyer by their client, in order to convince the legal practitioner that the client is serious in their intentions to fight for protection of their own legal rights. Payment of the retainer fee proves that the person asking for legal help is not a “time waster” and once done, the lawyer may put his/her best efforts in helping the client. If there is non-payment of the lawyer’s fees, then in some countries a lawyer has the right of retainer lien – i.e. to hold the results of their work and the documentation, until these are being paid.

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