The retainer is strictly limited to real expense costs of making the project bankable, including giving it universal collateral.
First, making the project bankable with acceptable collateral is 100% the client’s sole responsibility, and it is prohibited by banking and finance laws and regulations for any institution to pay those costs for a borrower. Thus it is illegal to make those costs “refundable”.
Second, the results of the work (that the retainer pays basic costs for) are given to the borrower, as a tangible deliverable. The borrower then “has” a bankable certified Banking Compliance Package, and “has” a Collateral Commitment with closing documents for the funding package with collateral. That is delivered tangible benefits, making the borrower qualified for many loans with many lenders worldwide. All laws of commerce prohibit requesting or giving a “refund” when the tangible work purchased has been delivered, and has value and benefit for the client.
Third, there is no compensation included in the retainer, and the European Banking Consortium provider has to work 100% on a success fee basis.
Fourth, since the retainer is 100% for expense costs of getting the work done, all of it must be spent immediately during the 1st month, nothing can be left to “refund”.
