Cad Crowd’s Billing Security policy offers payment protection on certain fixed-rate job contracts on the platform. This article explains the payment workflow and security hold for milestone payouts on fixed-rate contracts.
🚀 In this article
Payout workflow for fixed-rate contracts
The payment workflow for fixed-rate job contracts is highlighted below:
- Step 1: The first payment step for a fixed-rate contract is when your client deposits funds into the job’s escrow account balance. The payment is applied to the latest active milestone for your job contract.
- Step 2: The next step is submitting your work for the active milestone, and a work review is sent to the client for approval. If your client approves your work, the funds in the escrow balance are released, and you can request a payout after the 5-day security hold period.
- Step 3: The client evaluates your work submission and may release payment approval.
Client steps after your work is submitted for approval & payment
Your client may take the following actions after you share work deliverables for review and approval:
- Approve & release payment: Your client may approve your work and release the total milestone balance in the job contract’s escrow account.
- Ask for changes: The client may request changes to your work before approving and releasing the escrow balance.
- Increase payment: Your client can increase the payment amount when they release the funds held in the escrow balance for an active milestone. The increased amount means you will receive a payment exceeding the balance in the escrow account.
- Decrease payment: The client may approve work and release an amount less than the escrow balance for the active milestone. The amount is refunded to their user account balance and may be used for future milestones. You can file a dispute if you disagree with the decreased payment amount for the active milestone.
📡 Note: The Billing Security policy offers fixed-rate contract protection on certain types of payments.
Questions and answers
âš¡ When may I request a payout for a milestone on my fixed-rate job contract?
Your milestone payment shows pending on your account balance after the client approves your work and releases the escrow balance. You can request a payout after the 5-day security hold ends.
âš¡ When is the payout deposited into my bank or PayPal account?
Most payouts are deposited into your PayPal or bank account within 3 business days. In some cases, civic holidays may delay payments to certain banks. Please get in touch with us if 7 business days have passed and you haven’t received a payout in your PayPal/bank account.
âš¡ What steps are to needed to submit work for review and approval on a contract milestone?
