Fixed price for ongoing project

[84443f72]

Hi

can I know how this works? Does it mean that I will getting paid only once for this job during the period mentioned? What if it drags on or the client extend the period or if it is an ongoing project?

thank you

[JoanneP]

Hi Susan,

Thanks for reaching out! When working on a fixed-price contract and the initially funded milestone is completed, you can request your client to fund another milestone for any additional work they need from you. You can discuss this with your client to agree on the next steps. You may also want to share this help article with your client. 

[imranjan46 · Accepted solution]

Hi Susan,

Fixed-price contracts mean you get paid a set amount for the entire project, not by the hour. Here's the basic idea:

1. Agree on price and time: Talk to your client and figure out how much the project costs and how long it should take.
2. Break it down (milestones): Divide the project into smaller steps with deadlines. These are called "milestones."
3. Get paid per step: The client pays for each milestone upfront, using a secure system called "escrow." You don't get the money until you complete the milestone and the client approves your work.

Important: Don't start working unless the client has paid for the milestone.

What about extensions?

Talk to the client beforehand if you think the project might take longer. If they agree to extend the deadline, that's fine. But if you miss a deadline without their okay, you might get a bad review.

Here are some helpful Upwork links:

• Escrow protection: [Click Here]
• Job Success Score (JSS): [Click here]
• Deadlines: [Read here]

[84443f72]

Tqvm. Very clear explanation.  Appreciate it