Knowledge Base/Buyer FAQ

How do 'Escrow' payments work?

Jeremy September 19, 2009

By paying all or part of the agreed fees via an escrow account for the Consultant, the money is held securely and independently by Freelance Security until all parties are satisfied that the project has been completed, at which time the Buyer releases the funds. Should any dispute or problem arise, either Freelance Security or the Consultant can release the funds back to the Buyer, and in the event of a disagreement Freelance Security will mediate. By using escrow, the Consultant knows that funds have been commited for his benefit, but he/she doesn't have access to the money until the completion of the project. So all parties to the agreement can be confident that payment will be made and the project will be completed to everyone's satisfaction. The escrow payment functionality can be accessed via the "Manage My Account" section.

 
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