May 6, 2020 10:07:07 AM by Ling C
I have a small project that I want to use fixed-price payment this time and I have not offer the contract yet. Is the use of Escrow and deposit of fund ahead of time optional or required for this type of contract? Since I already have a credit card in my account, can I just pay a bonus using my credit card as a one time payment for fixed-price after the work is done? I am asking for a quick project so the setting of milestones are not necessary.
Thanks!
May 6, 2020 10:53:53 AM Edited May 6, 2020 10:56:14 AM by Preston H
re: "Can I offer a fixed-price job contract without using Escrow?"
No.
re: "Is the use of Escrow and deposit of fund ahead of time optional or required for this type of contract?"
Yes.
re: "Since I already have a credit card in my account, can I just pay a bonus using my credit card as a one time payment for fixed-price after the work is done?"
You need to fund at least $5.00 in escrow payment.
Other than that, you are welcome to pay as much as you want using the bonus tool.
re: "I am asking for a quick project so the setting of milestones are not necessary."
You do not need to set up milestones.
You can simply specify a single task, and have that be the contract. Technically that would be a one-milestone contract, but you do not refer to the task as a "milestone" if you don't want to.
Also, if you don't want to fund escrow at all, then the simplest thing to do is use an hourly contract.
May 6, 2020 11:02:38 AM by Bojan S
Hi Ling,
Funding at least $5 milestone in Escrow is required when making a fixed-price offer. So you won't be able to only pay a bonus without previously funding any money in Escrow. However, if you set up an hourly contract, you can offer the freelancer to not log any hours but be paid via a bonus. If they agree to such terms, you can set the weekly limit to 0 and only pay a bonus.
Thank you!