| विषय में पृष्ठों की संख्या: < [1 2 3] > | Retainer fee!? विषय पोस्ट करनेवाला व्यक्ति: Annie Estéphan
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Sheila Wilson 
स्पेन
Local time: 03:33
सदस्य (2007)
अंग्रेजी
+ ...
| Where is the value? | Nov 12, 2014 |
Annie Estéphan wrote:
But, from what I read, if the projects don't add up to $4000 during a month, let's say it adds up to $3000, then, he will only have to pay $1000 for the next month instead of $4000, if it adds up to $0, he will not have to pay anything for the next month, if it adds up to $5000, he will not have to pay anything the next month and only $3000 in 2 months...I'm sure you got the point:) So I will never have to return anything, unless he ends the agreement, and I have an outstanding amount of $4000 that he first gave me ahead.
How do you gain from that agreement in any shape or form? He's paying no more than any other client would; and getting a whole lot more, I imagine. What does he expect from you in this agreement?
| | | | | Agree with Sheila | Nov 12, 2014 |
There is no point in a retainer agreement unless there is a financial incentive for you to prioritize the client, i.e. you stand to make more money than you normally would from the same jobs.
If the client pays you $4000 each month and you can keep the $1000 in months when you only get $3000 worth of jobs from this client, that's fair. If the remainder rolls over to the next month instead of going into your pocket, the whole arrangement is pointless.
Obviously, the dollar amount depe... See more There is no point in a retainer agreement unless there is a financial incentive for you to prioritize the client, i.e. you stand to make more money than you normally would from the same jobs.
If the client pays you $4000 each month and you can keep the $1000 in months when you only get $3000 worth of jobs from this client, that's fair. If the remainder rolls over to the next month instead of going into your pocket, the whole arrangement is pointless.
Obviously, the dollar amount depends on how much work this client expects to give you, how tight the deadlines are (i.e. whether you can expect to be able to accept work from other clients) and how much you value your freedom. Also consider the risks of relying on a single client for your livelihood. ▲ Collapse
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I agree with what Sheila wrote.
| | | | Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | I gain the retainer fee | Nov 12, 2014 |
I gain the retainer fee of $4000 paid in advance...he only expects me to be available when he needs it since I am his only translator (direct client), no need to be available 24/7 or on weekends, just regular work (less than 3,000 words per weekday)
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Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | It would be too good to be true... | Nov 12, 2014 |
If I could keep extra $K per month for not working it would be too good to be true, no client would accept that...
| | | | Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | Not an employee | Nov 12, 2014 |
I am not an employee so I won't be paid for "hours" even if I've done nothing, that's why clients would rather work with freelancers than employees...
| | | | Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | I will not rely on only one client! | Nov 12, 2014 |
I don't understand, why many people think that I would only rely on only one client, I will be able to serve my other clients too, but when I get work from the retainer client, I will have to tell the other ones that I am working on another project, like I usually do when I receive many projects at the same time...
| | | | Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | Maybe with some limitations... | Nov 12, 2014 |
But we could agree on some limitations, maybe I should only accept a deadline that will let me work on no more than 1,500 words per day for this client, so that I could accomodate other clients too? Or, if he wants me to be fully available, maybe I should charge him 50% more, let's say $0.25 instead of $0.20?...or is it a stupid idea?
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Tim Friese
संयुक्त राज्य अमरीका
Local time: 21:33
सदस्य (2013)
अरबी से अंग्रेजी
+ ...
| Agree with Sheila | Nov 12, 2014 |
Sheila Wilson wrote:
Annie Estéphan wrote:
But, from what I read, if the projects don't add up to $4000 during a month, let's say it adds up to $3000, then, he will only have to pay $1000 for the next month instead of $4000, if it adds up to $0, he will not have to pay anything for the next month, if it adds up to $5000, he will not have to pay anything the next month and only $3000 in 2 months...I'm sure you got the point:) So I will never have to return anything, unless he ends the agreement, and I have an outstanding amount of $4000 that he first gave me ahead.
How do you gain from that agreement in any shape or form? He's paying no more than any other client would; and getting a whole lot more, I imagine. What does he expect from you in this agreement?
Guaranteed availability has a price beyond your usual per-project, per-hour, per-day, etc rates. I agree with an earlier suggestion of approximately 1-2 hours per day as the minimum. Note that this would be in addition to the actual per-project charges. This would compensate you for occasionally declining jobs that are too intensive for you to complete while maintaining some availability.
Good luck!
| | | | Salam Alrawi
संयुक्त राज्य अमरीका
Local time: 21:33
अंग्रेजी से अरबी
+ ...
| Other members already explained it to you | Nov 12, 2014 |
Annie Estéphan wrote:
But we could agree on some limitations, maybe I should only accept a deadline that will let me work on no more than 1,500 words per day for this client, so that I could accomodate other clients too? Or, if he wants me to be fully available, maybe I should charge him 50% more, let's say $0.25 instead of $0.20?...or is it a stupid idea?
Annie,
I do understand that having $4000 ahead each month is great. However, you are getting paid for work that you only do.
Let me give you an example:
You hire a taxi to go to 2 places (from Point A to point B and then to point C) and the pay is: $1 a mile and $10/hour for waiting for you.
The taxi driver drives you from point A (work) to point B (grocery store) first, it was 15 miles. So the pay is $15. However, you stop at point B to do some shopping for 30 minutes while the taxi driver is waiting for you.
During those 30 minutes, he charges you 50% of the waiting charge (which is normally is $10) so that comes up to $5.
Then you come back from shopping, hop into the taxi and go to point C (home) which is 20 miles away from point B. The taxi driver gets paid $20 dollars for the trip from B to C.
So, the Taxi driver payment comes up to:
$15 + $5 + $20 = $40
In the example above, and the way it applies to you, you are missing the $5 payment. The client isn't paying you the $5 for waiting time.
However, Annie, and more important, if you are happy with the way it is, then just do what makes you happy.
| | | | Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | You were right! | Nov 12, 2014 |
We agreed for the $4,000-retainer fee, but if the projects are less than that, i'll keep the balance, and if it's more then he will add it to the $4,000-retainer fee of the next month.
Thanks...I would've been caught if it wasn't from you and my lawyer.
Thank you!
| | | | jyuan_us
संयुक्त राज्य अमरीका
Local time: 22:33
सदस्य (2005)
अंग्रेजी से चीनी
+ ...
| I think this client is nervous | Nov 12, 2014 |
and he may end up paying you $4000 for nothing for a particular month. That's insane.
Was he an insurance professional before? Or why didn't he hire you as a full time translator working from home?
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Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | For nothing? | Nov 12, 2014 |
It's not for nothing...Usually, I get around this amount per month for this client, and not full time $4,000 per month is only for 5,000 words per week, so I wouln't want to work only for him...I need my other clients to fill the gap of the other half!...
| | | | | sounds like a great deal | Nov 13, 2014 |
I think a large majority of the people at ProZ would be overjoyed to earn a total of 4000 USD or CAD per month (although I may be confused about exchange rates). That sounds like a great deal for you (secure flow of reasonably paid work from a good client) and your client (able to depend on having a good translator with insider knowledge without having to hire someone as an employee).
My only suggestions would be that you explicitly set a fixed amount of words per day that you are r... See more I think a large majority of the people at ProZ would be overjoyed to earn a total of 4000 USD or CAD per month (although I may be confused about exchange rates). That sounds like a great deal for you (secure flow of reasonably paid work from a good client) and your client (able to depend on having a good translator with insider knowledge without having to hire someone as an employee).
My only suggestions would be that you explicitly set a fixed amount of words per day that you are required to provide per workday (ca. 1/3 to 1/2 of a good day's output), that you make some kind of provisions for blocking out a certain number of days per year as vacation time (and correspondingly reducing the retainer fee for those months), and that the agreement cannot be cancelled effective immediately = the client has to warn you 2-3 months in advance, so that you have time to adjust.
The only other issue that I see is that this relationship then begins to look more and more like an employment contract and the client's lawyer ought to inform you about the potential pitfalls involved in that and how to avoid them. ▲ Collapse
| | | | Annie Estéphan
कनाडा
Local time: 22:33
सदस्य (2010)
अंग्रेजी से फ्रांसीसी
+ ...
विषय आरंभकर्ता | yes, of course | Nov 13, 2014 |
Yes, we agreed on the equivalent of $4,000, so 1,000 words per day, so 1/3 the day output, so that I can keep room for all my other clients, AND to be free during nights, weekends, legal holidays, and my children's vacations (2 weeks in x-mas, 2 weeks in Easter, and the last week of August (summer vacation)).
I really hope it's going to be fine:)...if anything happens, I can cancel the contract at any time with one-month notice.
It's crazy, we really have to think about... See more Yes, we agreed on the equivalent of $4,000, so 1,000 words per day, so 1/3 the day output, so that I can keep room for all my other clients, AND to be free during nights, weekends, legal holidays, and my children's vacations (2 weeks in x-mas, 2 weeks in Easter, and the last week of August (summer vacation)).
I really hope it's going to be fine:)...if anything happens, I can cancel the contract at any time with one-month notice.
It's crazy, we really have to think about every single detail...since the devil's in the details ▲ Collapse
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