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Updated July 06, 2022

An engagement letter outlines the scope of work and payment to be provided by a client for a third (3rd) party consultant. An engagement letter is used commonly with professional services such as accountants (CPAs), attorneys, and real estate agents to properly identify the relationship with the client often required under bbin电竞官网官方永久 law. In addition, the letter is legally binding and requires payment by the client upon completion of the services.

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What is an Engagement Letter ?

An engagement letter binds a client and a third (3rd) party to agreed-upon services provided in exchange for payment. The services are specifically outlined including the amounts due, either per hour ($/hr) or for the entire scope of work. Both parties shall be contractually obligated to perform their duties.

What is a Retainer ?

A retainer is a payment made as an advance on services that are to be completed. A retainer is often made part of the engagement letter as security and signifies the client’s commitment.


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