A Monthly Retainer Consulting Agreement is a contract between an organization and a consultant that outlines the services the consultant agrees to provide over a specified period of time in exchange for a set fee paid on a monthly basis. The agreement defines the scope of work, deliverables, payment terms and other key details about the consulting arrangement. With this type of arrangement, both parties benefit from enhanced predictability and continuity: the client benefits from knowing that the adviser will be available to provide services continually and is committed to helping them grow, while the consultant enjoys regular payment and a steady stream of income.