a client
hiring a freelancer first deposits an agreed amount for the project in escrow.
The fund is there until the freelance talent completes action on the project
and then, sends a request to be paid. As a rule, the client has 10 days to
respond, by either accepting or rejecting the request. However, if they fail to
react to the request, the money held in escrow will be automatically released
to the freelancer.
For
emphasis, funds are released from escrow as payment only after a job has been
completed. If at any time the client or freelancer chooses to cancel the
contract too early, the full amount deposited is sent back to the client within
five business days, unless there is a dispute in which case, the money stays in
escrow until the issue is sorted out.
Dispute Over Payment
Sometimes,
misunderstandings between freelancers and their clients cannot be avoided, even
on Hourspent. It is our greatest wish that both parties reach an agreement
before matters escalate. But where that is difficult to achieve, Hourspent dispute
resolution center should be contacted. Luckily, our escrow system secures funds to dispel any fear of losing money before disputes are resolved.
A freelancer
can file a dispute
·
when
a client suddenly ends a contract funded in escrow, without duly informing the
freelancer
·
when
a client is unresponsive, or delays in remitting payment even after a job has
been completed in accordance with agreed terms
After filing
a dispute, one of the Hourspent team members will contact to inform you that a
mediation process has been initiated, which will involve you and your client.
Hourspent's intervention in the dispute comes with specific recommendations, which both the
freelancer and client have to mutually agree to, for the issue to end quickly
and amicably.
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