Fixed Price with No Milestones

[verbapecunia]

I am new to upwork and about to submit my proposal for a fixed price project with no milestones. Is the client required to deposit the amount of my bid into your escrow upon approving my proposal?

[prestonhunter]

Akos:
I'm not sure what you mean when you use the phrase "a fixed price project with no milestones."

Could you explain further?

By definition, a fixed-price contract must have at least one milestone. Or it can not be set up within the Upwork system.

re: "Is the client required to deposit the amount of my bid into your escrow upon approving my proposal?"

The client can set up the fixed-price contract any way he wants, as long as it is worth at least $5.00.

You have the right to DECLINE the offer.

For example:

Freelancer: "I will do task X for $100."

Client: [sets up contract for $25.]

Freelancer: [clicks Decline button]

[verbapecunia]

Hello Preston,

Thank you for your quick reply! When I submit my bid, I have the following options:

How do you want to be paid?

• By milestone

Divide the project into smaller segments, called milestones. You'll be paid for milestones as they are completed and approved.

• By project

Get your entire payment at the end, when all work has been delivered.

If I choose to be paid by project (rather than creating milestones) upon approving my bid, is the client still required to put the payment into escrow?

Thanks again,
Akos

[prestonhunter · Accepted solution]

re: "If I choose to be paid by project (rather than creating milestones) upon approving my bid, is the client still required to put the payment into escrow?"

Yes.

This is a single-milestone fixed-price contract.

[verbapecunia]

That explains it.
Thank you Preston!

[5b4eea72]

In "single-milestone fixed-price contract", do we have starting and ending dates? 

If it has ending date, do we get payment only after that date?