R is for Retainer
In this reel, I talk about retainers (not deposits π).
Retainers, which can be nonRefundable...but that only works if your contract actually explains what the retainer is for:
πΉ It compensates you for committing to perform the services
πΉ It compensates you for turning down other work that would limit your capacity to perform
πΉ It reserves that specific date/time on your calendar
When your contract spells this out, itβs much easier to stand behind your retainer policy (and harder for a client to argue it should be refunded when they cancel).
If your client agreement just says βnonrefundable retainerβ with no explanation, itβs time for a tweak. Schedule a free chat with me.