Translance Fixed-Price Protection uses escrow to help ensure that your clients get the work they've asked for and you get paid for work completed. Under this program, clients making fixed-price offers deposit a milestone payment into escrow before you begin working. Upon receiving and approving the work, your client releases the payment to you.
Define and Pre-Fund Milestones
Before any work begins, you and your client will agree on certain work milestones and how much you'll get paid for completing each.
• You can define, submit, and get paid for one chunk of work at a time, or plan out all milestones ahead of time.
• For larger projects, a small first milestone can be a good practice to allow 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. Translance.net can't help you collect any funds that have been promised but not deposited to escrow. Therefore, it's important that the amount held in escrow is appropriate for the work you will perform for that milestone.
Send Work
Please discuss with your client ahead of time how you'll deliver your files or other work product. You can send files using Translance collaboration tools .
To submit a milestone for approval:
1.Go to message center and upload the completed work. It's important that your allow client to review your work once you submit it for approval. The review process may take up to 14 days.
2. Under contract page tab click on Milestone > Request Payment
3. Click the Submit Request button. Your client will be notified you have submitted work for their approval. You will be notified when they approve payment or request changes.
Review & Approve Milestones
Once you submit your work, your client will review and either approve the milestone or ask for changes.
• The client has 14 days from the most recent submission on a milestone to review and approve or request changes. Approval releases the payment from escrow to you.
• If your client doesn't respond to any milestone submission within 14 days, the deposit is automatically released to you.
• You may file an escrow dispute if the client refuses to release funds for a completed milestone. Escrowed funds won't be released back to the client unless you approve their return or undergo dispute mediation.
Qualifying for Fixed-Price Protection
All escrowed funds are covered by Fixed-Price Protection.
• Protection won't cover milestone payments in excess of the amount in escrow, funds from unverified payment methods, or additional amounts that are discussed or promised between you and and your client.