I'm new to upwork and just got my first offer and I'm a bit confused.
I agreed on $450 total cost of the project. The offer I got says: ''estimated budget $350, and the customer funded the first milestone for $100''.
Is the first milestone's escrow included in the ''estimated bid'' or does it come extra? Will I receive the total of 450 or only 350 if I accept that offer?
Thanks in advance for any replies!
re: "Is escrow included in the total estimated bid?"
It doesn't matter.
The "total estimated bid" doesn't matter.
The only thing that matters is a funded escrow payment.
re: "I agreed on $450 total cost of the project."
The "total cost of the project" doesn't matter.
re: "The offer I got says: ''estimated budget $350, and the customer funded the first milestone for $100'"
The "estimated budget" does not matter.
The "estimated budget" could be $350. It could be $1 million. It could be "3 unicorns."
re: "Is the first milestone's escrow included in the ''estimated bid'' or does it come extra? Will I receive the total of 450 or only 350 if I accept that offer?"
You are not going to receive $450.
You are not going to receive $350.
You said that the customer funded the first milestone for $100.
That is how much you will receive:
You will receive $100 if you complete the first task, and if the client is an honest person who then releases payment for your work on that task.
Is it possible that the project will then be over?
Is it possible that the client will fund ANOTHER milestone, with ANOTHER payment?
Is it possible that the total amount of money you will be paid for this project will be $350 or $450?
But it could be less. It could be more.
Each milestone in a project usually lines up with the way you and your client agree you will be paid as the project progresses.
If the client has funded $100 in escrow and the total potential maximum value of the project is $450, you should complete and provide to the client approximately 100/450 (22%) of the total work product you expect to produce for the entire project.
Only submit your work for this milestone to the client via the Upwork project page, which will start the clock for the client to release escrow to you or wait for Upwork to automatically release to you the amount in escrow 14 days later. (DO NOT re-submit the same work to the client. That re-starts the 14-day clock.)
You should not provide substantially more work than that to the client until the client a) has released MIlestone 1's escrow to you and b) the client has fully funded escrow for Milestone 2.
The client might tell you they are in a hurry and want you to start work on the rest of the project, and maybe even submit it, before escrow for MIlestone 1 has been released to you and/or escrow for MIlestone 2 has been fully funded. DON'T DO It! That is not how fixed price projects work on Upwork. You'll be setting yourself up to not get paid in full if your client is dishonest.
NEVER release work for a milestone to a client if a) you have not been paid in full for all prior milestones on a project and b) the client has not fully funded escrow for the milestone you would next start working on.