I use the word "deposit". It seems more definitive to me. A retainer seems more like a "hold" vs a definite booking. (But it is up to individual interpretation!:)
Business from Westminster, MD
Answered on Nov 13th, 2017
I was using "deposit", but a photographer friend of mine said her lawyer had her switch to "retainer" for pretty much the same reasons as Wendy indicated below.
I use "deposit" because we charge a security deposit. This covers me if they cancel too close to the event date and covers them if they go over their allotted time or break something or in the case of a DIY they don't properly clean up after their event following our clean up guidelines.
I used to use the word "Deposit" but within the last year switched it to "Retainer". It was suggested that here in California, legally, the meaning of "Deposit" is money being held on clients behalf, therefore must be returned/refunded if services are cancelled by client. "Retainer" on the other hand implies monies being paid for a product or service, therefore I (as the vendor being paid) can deduct any time I have spent on client (consultation, research of vendors, writing contract, etc) and are no longer required to refund. Not sure of the laws in Philly but I hope that helps.
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Answers (11-20)
I use the word "deposit". It seems more definitive to me. A retainer seems more like a "hold" vs a definite booking. (But it is up to individual interpretation!:)
I was using "deposit", but a photographer friend of mine said her lawyer had her switch to "retainer" for pretty much the same reasons as Wendy indicated below.
Retainer
Ususally deposit and as I work with bigger and bigger clients may introduce retainer.
I use “ Deposit
we use the word deposit
I use "deposit" because we charge a security deposit. This covers me if they cancel too close to the event date and covers them if they go over their allotted time or break something or in the case of a DIY they don't properly clean up after their event following our clean up guidelines.
In our contract he word deposit is used.
Deposit
I used to use the word "Deposit" but within the last year switched it to "Retainer". It was suggested that here in California, legally, the meaning of "Deposit" is money being held on clients behalf, therefore must be returned/refunded if services are cancelled by client. "Retainer" on the other hand implies monies being paid for a product or service, therefore I (as the vendor being paid) can deduct any time I have spent on client (consultation, research of vendors, writing contract, etc) and are no longer required to refund. Not sure of the laws in Philly but I hope that helps.