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Further fund excrow account

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Active Member
Rakesh L Member Since: Jan 24, 2020
1 of 5

There is already some money in the escrow account for a freelancer who's working on a project for me.

I would like to put more money in the escrow account without releasing the money that is already there. How do I do that?

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Community Guru
Richard W Member Since: Jun 22, 2017
2 of 5

Rakesh L wrote:

There is already some money in the escrow account for a freelancer who's working on a project for me.

I would like to put more money in the escrow account without releasing the money that is already there. How do I do that?


Once a contract has begun, you can only add new money to the escrow when you activate a milestone, after the previous milestone has ended. And at that time you must add exactly the amount needed to fund the new milestone.  You could change the amount of the new milestone before activating it.

 

If you want to pay your freelancer additional money for the current milestone, your freelancer can request the higher amount when they complete the work and submit a payment request, or you can change the amount when you release the payment. The additional money (above what is currently in escrow) would then be taken directly from your payment method at that time. It wouldn't be placed in escrow.

 

Alternatively, you could (with the agreement of your freelancer) close the current milestone, editing the amount to be released from escrow to just $1. Then create, activate and fund a new milestone to replace it.

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Rakesh L Member Since: Jan 24, 2020
3 of 5
Hi
Thanks very much for your reply.
I am thinking of another option and that is to give the extra amount as
bonus. Is that feasible?
Please let me know.
Thanks
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Community Guru
Preston H Member Since: Nov 24, 2014
4 of 5

Paying a bonus is a very feasible option. It is an option I often use, and I think it is simpler than creating and funding milestones. It is especially appropriate to use to pay for small additional tasks that don't necessarily warrant creating an entirely new contract or milestone.

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Leroy F Member Since: Feb 16, 2020
5 of 5

Preston H wrote:

Paying a bonus is a very feasible option. It is an option I often use, and I think it is simpler than creating and funding milestones. It is especially appropriate to use to pay for small additional tasks that don't necessarily warrant creating an entirely new contract or milestone. run 3


Thanks very much. It was very helpful.

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