Say Yes To Escrow

Why Escrow?

Escrow jobs take the stress out of freelancing. No more having to ask for ridiculously high up-front payments to reduce the risk of buyers disappearing into the night never to be seen again. Hunting down payments is now a thing of the past. Getting paid no longer requires more time and effort than the actual job itself, and buyers no longer have to worry about paying for work that won’t get done. Sounds like an unattainable freelancing marketplace dream, right? It’s not. It’s very real, and available on all Elance Fixed Priced Jobs.

But what the heck is Escrow?

Freelancers, both new and experienced, always ask about Escrow with great hesitation. It’s a foreign concept compared to the high risks assumed to be normal with freelancing gigs, so it’s hard to believe it can possibly be simple, safe, and effective. What’s the catch?

No catch – and it is THAT simple. The client pays before work is done, the funds are held in Elance Escrow until the work is completed, and voila! The client is guaranteed that his money is safe until the work is done and the provider knows that payment is already there. A safe and secure win-win situation for both parties.

Still hesitant to embrace escrow jobs? Okay, here’s a breakdown to show you how easy it truly is.

The first step, once you’re awarded a fixed price job, is to set out job milestones with the client, and agree on funded amounts for each milestone. The buyer then funds the first milestone into Elance Escrow, and you begin work. The client has already paid. There is no doubt that you will receive payment if you complete the milestone, making it 100% safe. And here’s the kicker – you do not begin work until the milestone is funded!

When you reach the milestone, the client funds the next, and the job continues. You never have to work without funding, knowing that the money is being held for you in Escrow. It’s so safe that Elance even has a Fixed Price Work Guarantee.

Saying yes to Escrow for fixed price jobs greatly reduces the risk to both buyers and providers, which translates into less time spent soothing buyer fears or tracking down payments for completed work, and more time spent working.

Disputes and issues between clients and providers drop to almost nothing when you choose to go with fixed price escrow jobs. This is a far cry from the freelance payment russian roulette risks of yesterday. But even if the occasional dispute pops up, Elance Escrow still has you covered.

With the Fixed Price Work Guarantee, Elance Dispute Assistance acts as a neutral third party to help resolve problems by using the milestones agreed upon by both parties, all messages exchanged in the workroom, and the final deliverables. Bottom line is, if you provide solid, professional work, you’ll get paid. Guaranteed.

The buisness landscape has changed. The freelance marketplace has exploded in size over the past few years creating an overwhelming need for a safe, secure payment platform for clients and providers to operate within. Elance Escrow is Elance’s response to this need, and the perfect solution for this new way to work.

Jump on board the Escrow Payment train, and discover a whole new stress-free way to get paid. It IS that easy.

For more information, check out the Elance FAQ’s: What is Escrow and As A Provider, How Do I Use Elance Escrow?

Still have questions? Post them in the comments section and I’ll do my best to answer them.


Great photo by Stephen K. Willi