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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.