Elance Escrow Protection helps ensure clients pay only for work they've received and approved. Created for Fixed Price jobs, clients have the ability to inspect work previously agreed upon and delivered by their freelancers, before they release funds from Escrow. Click here to learn how the Elance Escrow feature can help you manage your Fixed Price jobs.
In the event of a dispute over the work and release of payment, Elance will assist both parties in trying to find a resolution before funds are released to either party.
Read below to learn more about Elance Escrow Protection for Clients.
Are you a freelancer? Click here to learn how Elance Escrow Payment Protection works for you!
What types of jobs qualify for Elance Escrow Protection?
Elance Escrow Protection is only available for Fixed Price jobs. Once a job is awarded, the client and freelancer define and agree upon milestones, and funds are then placed into Escrow.
How does Elance Escrow Protection work?
Set up the job with milestones and fund Escrow:
- Clients award the job to their preferred freelancer and both parties agree to terms and milestones for the job. For most projects, setting up multiple milestones is recommended. Need help on setting up milestones? Click here for more information.
- If more than one milestone is set for the job, Client should fund Escrow for the first milestone at a minimum. Clients can opt to fund escrow for all milestones when a project begins, though this is not required.
Approve and Pay for Completed Milestones
- The freelancer will submit status reports when a milestone has been completed. If the client is satisfied with the work, they should release the funds in Escrow for the completed milestone.
- If the client is not satisfied with the services from the freelancer or if they did not meet the requirements of the Job Agreement, clients can decline to release Escrow and make payment. Should this occur, Elance encourages both parties to directly communicate and discuss adjusting the terms of the job.
- Note: If no action is taken by the client within 30 days, funds are released automatically to the freelancer.
- If both parties cannot come to a resolution, Elance offers free dispute assistance as part of Elance Escrow Protection. Either party can request Dispute Assistance from the project workroom, and Elance will schedule and moderate a discussion so clients and freelancers can come to a mutually agreeable resolution regarding the release of funds held in Escrow. To request Dispute Assistance, click here.
With Elance Escrow Protection, clients are assured they will have the opportunity to review work prior to releasing payment.