retainer > define

noun

• A fee charged in advance to retain the services of someone.
  • synonyms: consideration
• A person working in the service of another (especially in the household.
  • synonyms: servant
• A dental appliance that holds teeth (or a prosthesis) in position after orthodontic treatment. .

• (n.) The act of keeping dependents or the state of being in dependence.
• (n.) The act of a client by which he engages a lawyer or counselor to manage his cause.
• (n.) The act of withholding what one has in his hands by virtue of some right.
• (n.) Hence, a servant, not a domestic, but occasionally attending and wearing his master's livery.
• (n.) One who is retained or kept in service; an attendant; an adherent; a hanger-on.
• (n.) A fee paid to engage a lawyer or counselor to maintain a cause or to prevent his being employed by the opposing party in the case; -- called also retaining fee.
• (n.) One who or that which, retains.

Under the Bankruptcy and Insolvency Act it is common for the Trustee in Bankruptcy to ask for a' Retainer' before he accepts an appointment. There is also a special type of retainer called a Third Party Retainer, whereby funds are put up that secure the fees and disbursements of the Trustee but are returned to the party putting up the funds if the Trustee realizes enough out of the estate to cover the fees and costs and, in the case of a proposal, returned to the party putting up the funds if the proposal is refused by the creditors or not approved by the Court.