When you hire an expert on the platform, you can choose between two types of job contracts:
- Hourly job contact: With the fixed-rate contracts option, you agree to compensate your expert based on an hourly rate (starting from $8.00/hr USD) for the work performed on your project. The hourly rate is negotiable and is discussed when you interview an expert.
- Fixed-rate job contract: Fixed-rate contracts involve paying your expert a single, predetermined rate for your entire project. Experts share a negotiable quote for your project (minimum of $25.00 USD) when you interview and make hiring decisions. In addition, you can break fixed-rate job contracts into smaller milestone payments when specific tasks are completed.
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How hourly job contracts work
Hourly job contracts: Experts use the Cad Crowd Desktop App to track their working hours and timesheets. You can keep an eye on the progress of your expert by reviewing their Work Journal. You can negotiate a refund with the expert if you feel certain billable hours are unjustified.
- Manual time: You can allow experts to add manual time entries to timesheets.
- Weekly limit: You can establish a weekly billable time limit for work hours to manage your costs.
How fixed-rate job contracts work
Fixed-rate job contracts: Under a fixed-rate contract arrangement, you and the expert choose specific project milestones that serve as the framework for your project. Your contract can include a single payment or divide the job into several tasks, each with a separate payment milestone. For secure payment, you deposit the funds for each milestone into Cad Crowd’s escrow account. You can check your expert’s work before authorizing the release of any payment milestones in progress.
- Milestones: During the fixed-rate contract, if circumstances necessitate, you can add, remove, or update milestones as needed.
The billing period for hourly and fixed-rate job contracts
Payment flow for hourly and fixed-rate job contracts:
- Hourly job contracts: The billing period for hourly job contracts occurs weekly. Experts track timesheets for the week, with the weekly work period ending on Sunday night (11:59 p.m. / UTC timezone). The timesheet hours are automatically billed to you every Monday, and you have until the upcoming Friday to examine the expert’s work journal timesheets and submit a dispute if needed. The payment is subsequently released to the expert on the next Wednesday.
- Fixed-rate job contracts: Milestone payments for fixed-rate job contracts are deposited into the job’s escrow account. The escrow account balance is then released upon completing a milestone or project. When an expert delivers work corresponding to a milestone, you are given a 14-day window to approve the task or request modifications. The funds held in escrow are released to the expert upon your approval of the work.
Cad Crowd Billing Security
Cad Crowd’s Billing Security enhances the safety of payments on the platform, offering you and the expert the assurance and confidence to start a successful work collaboration.
- Hourly job contracts: You are protected by Cad Crowd’s Billing Security for hourly job contracts
- Fixed-rate job contracts: You are protected by Cad Crowd’s Billing Security for fixed-rate job contracts
