Solved: Funds reservation

masskill · ‎03-18-2021

Hello. If the contract says $ 100.00 (Funded)
Does this mean that the client has made a reservation? Or not yet?

prestonhunter · ‎03-18-2021

re: "Hello. If the contract says $ 100.00 (Funded). Does this mean that the client has made a reservation? Or not yet?"

$100 (Funded) means that the client's credit card has ALREADY BEEN CHARGED.

The client has already paid that money to Upwork.

So it is even MORE significant than a "reservation."

The $100 is in a true escrow account, and they client CAN NOT GET THAT MONEY BACK unilaterally. The money must go to the client. Or the client must REQUEST for that money to be refunded to him. If the client requests for a refund, the freelancer can say "no." The client can't just click a button and automatically get that money back.

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prestonhunter · ‎03-18-2021

re: "Hello. If the contract says $ 100.00 (Funded). Does this mean that the client has made a reservation? Or not yet?"

$100 (Funded) means that the client's credit card has ALREADY BEEN CHARGED.

The client has already paid that money to Upwork.

So it is even MORE significant than a "reservation."

The $100 is in a true escrow account, and they client CAN NOT GET THAT MONEY BACK unilaterally. The money must go to the client. Or the client must REQUEST for that money to be refunded to him. If the client requests for a refund, the freelancer can say "no." The client can't just click a button and automatically get that money back.