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Can I offer a fixed-price job contract without using Escrow

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Active Member
Ling C Member Since: Apr 6, 2020
1 of 3

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!

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Community Guru
Preston H Member Since: Nov 24, 2014
2 of 3

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.

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Moderator
Bojan S Moderator Member Since: Mar 9, 2018
3 of 3

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!


~ Bojan
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