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klara_28
Community Member

Escrow funding

Newbie question. How to figure out whether or not a client has funded the money in the escrow account for a fixed-price project?

 

Thanks in advance.

ACCEPTED SOLUTION


Klara K wrote:

Thanks Robin. What if there are no milestones and I choose to be paid when the entire project is completed? Or in case of fixed-price projects it's better and safer to set milestones?


Good questions.  You don't need milestones.  You will get different answers from different freelancers, but if a project is $500 or less, I ask the client to fund the entire project within one payment.  For longer, more complex projects, you will want milestones so client is paying you throughout the project as you complete specific tasks.  

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robin_hyman
Community Member

Click on "My Jobs" from the top navigation on Upwork.  Here is a list of all in progress jobs.  If you have a milestone in escrow (aka funded), it will read "active" and indicate the amount.  You will also have a green submit button to submit your deliverable or alert the client you are done with the milestone.

 

If you do not have a funded milestone, it will read "no active milestones" adjacent to the job.  

 

Of course if you haven't accept the job yet, it will not be on this list until you do so.

Thanks Robin. What if there are no milestones and I choose to be paid when the entire project is completed? Or in case of fixed-price projects it's better and safer to set milestones?

There's always at least one milestone for fixed-price contracts.

Thank you.


Klara K wrote:

Thanks Robin. What if there are no milestones and I choose to be paid when the entire project is completed? Or in case of fixed-price projects it's better and safer to set milestones?


Good questions.  You don't need milestones.  You will get different answers from different freelancers, but if a project is $500 or less, I ask the client to fund the entire project within one payment.  For longer, more complex projects, you will want milestones so client is paying you throughout the project as you complete specific tasks.  

Robin, thanks a lot for helping me out with this =).

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