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Hourly vs fixed price contract differences
If you are a Buyer:
Sending an Offer:
- Hourly Contract: Negotiate an hourly billing rate when you interview the Freelancer.
- Fixed-Price Contract: Negotiate a cost for the full project or create milestones.
Project Management:
- Hourly Contract: Your freelancers need to have the iJobDesk Desktop App installed and running to qualify their work. You can review their Work Diary regularly.
- Fixed-Price Contract: Funds are deposited into iJobDesk Escrow. You will review the deliverables for a milestone and release payment for the milestone when you are 100% satisfied.
Payment Protection
- Hourly Contract: No payment protection. Your Freelancers will be notified when you have no funds enough to make payment in your account.
- Fixed-Price Contract: Covered by iJobDesk Fixed-Price Protection.
Payment
- Hourly Contract: You will be billed on a weekly basis.
- Fixed-Price Contract: You deposit funds for milestones into iJobDesk Escrow and release at the completion of a milestone or project.
If you are a Freelancer:
Receiving an Offer:
- Hourly Contract: Negotiate an hourly billing rate when you interview the Buyer.
- Fixed-Price Contract: Negotiate a cost for the full project or create milestones.
Working on a contract:
- Hourly Contract: You need to have the iJobDesk Desktop App installed and running to qualify your work. You can review your Work Diary regularly and delete screenshots unrelated to the contract.
- Fixed-Price Contract: You complete and submit specified milestone deliverables to the Buyer.
Payment Protection
- Hourly Contract: No payment protection. You will be notified when the Buyer has no funds enough to make payment.
- Fixed-Price Contract: Covered by iJobDesk Fixed-Price Protection.
Payment
- Hourly Contract: You will get paid on a weekly basis. Funds will be available in your account after a review and security hold period.
- Fixed-Price Contract: Funds will be submitted to iJobDesk Escrow and released at the completion of a milestone or project.