🐈
» Forums » Freelancers » Project Price vs Funded
Page options
msyariff
Community Member

Project Price vs Funded

Hi, I've got a situation where a client hasn't been in contact with me but the project's budget is far from spent. The last made milestone had long been finished, it's just that there's no new one coming. The current status, not using the actual figure but for illustrative purposes, is like this:

Received
$300.00
Funded (Escrow Protection)
$0.00
Project Price
$600.00

Does the fact the actual paid amount is only half the project price means there is still some funds sitting in Upwork that the client hasn't used yet? Or does the fact the funded escrow being $0 means that the client has already spent all the funds deposited on Upwork and is at liberty to put the project on hiatus without sacrificing a potential alternate use of the remaining agreed $300?

ACCEPTED SOLUTION
yofazza
Community Member

Hi, here's how we should see it:

 

  • Only work as much as the funded milestone, then click Submit Work.
  • Project price is irrelevant.

 

Nothing wrong with submitting work. It's the correct and intended process. Client can request revisions after you click Submit Work. No need to wait for client's approval before clicking.

 

If only half of the agreed price is funded, then Submit Work after completing half of the work.

 


Does the fact the actual paid amount is only half the project price means there is still some funds sitting in Upwork that the client hasn't used yet? Or does the fact the funded escrow being $0 means that the client has already spent all the funds deposited on Upwork and is at liberty to put the project on hiatus without sacrificing a potential alternate use of the remaining agreed $300?

The latter is correct.

View solution in original post

3 REPLIES 3
ArjayM
Moderator
Moderator

Hi Muhammad Syarif,

 

Thank you for your message. Before any work begins, you and your client will agree on certain work milestones and how much you'll get paid for completing each. For larger projects, a small first milestone can be a good way for you and your client to work together and earn each other's trust before continuing on with the project. Before you start working on a milestone, your client will pre-fund the payment for that milestone into an escrow account.

 

We collect this escrow deposit to confirm your client's ability to pay, but payment is dependent on your client's satisfaction with your work. Please note that only the money that's held in escrow is secure. Upwork can't help you collect any funds that have been promised but not deposited into escrow. Therefore, it's important that the amount held in escrow is appropriate for the work you will perform for that milestone. If your client deposits a smaller amount than agreed upon, do not begin work until they have deposited the full amount or you have renegotiated the price and work expectations.

 

We suggest you check this help article for more details on how to Get Paid For Fixed-Price Contracts.

 

~ Arjay
Upwork
yofazza
Community Member

Hi, here's how we should see it:

 

  • Only work as much as the funded milestone, then click Submit Work.
  • Project price is irrelevant.

 

Nothing wrong with submitting work. It's the correct and intended process. Client can request revisions after you click Submit Work. No need to wait for client's approval before clicking.

 

If only half of the agreed price is funded, then Submit Work after completing half of the work.

 


Does the fact the actual paid amount is only half the project price means there is still some funds sitting in Upwork that the client hasn't used yet? Or does the fact the funded escrow being $0 means that the client has already spent all the funds deposited on Upwork and is at liberty to put the project on hiatus without sacrificing a potential alternate use of the remaining agreed $300?

The latter is correct.

c86efa34
Community Member

I got a similar situation but the condition is totally opposite. In my case upwork is showing the following statistsics.
Received: $380

Funded (Escrow): $0

Project Price: $300

Why system is showing me more amount in recieved price, while the project price is $300. It can't be due to Upwork comission because the difference of $80 does not lies under 10 percent criteria. 
Kindly have a look in this regard and if anyone have experienced such situtaion before than there little suggestion will be highly appreciated.
Thanks,
Ghazali Hassan

Latest Articles
Top Upvoted Members