Escrow System

We recommend you use our Escrow services, especially for larger projects, ideally for all. It offers a visible means of reducing the risk for all parties concerned and demonstrates to the consultant that the funds are available for payment.

So how does this work?

Once a project bid is accepted, the buyer places the funds in Escrow. The consultant then knows that the project funding is in place and secure. Note the funds can only be returned with the agreement of both parties if for instance the project is cancelled.

For the buyer, only they can release the funds once the project has been completed to her satisfaction. If a dispute arises, we will ensure that the funds remain frozen until the dispute is resolved.

In our experience problems are avoided when projects are clearly specified with both parties understanding what constitutes the end of the project.

We want all parties to be fairly treated and firmly believe that escrow helps facilitate this; and as such we provide this service completely free of charge.

Escrow Stage Payment Service

For instance with a project of say $200 the buyer may request a stage payment by partial release of funds in Escrow. The minimum payment is $30. To set up stage payments you can either create multiple escrow amounts for the same consultant or place the full amount in one go into escrow. The system will ask you how much you wish to release when you come to pay the consultant.

Project Disputes

In the rare instance a dispute arises, every endeavour should be made to reach agreement. You should contact us if a dispute arises and we will ensure that the funds remain frozen till the dispute is resolved. Remember that it is better to be clear and concise over exactly what is required and how the project is managed as well as stating any constraints on delivery by either party that may impact on the project. If additional requirements emerge, they should be discussed at an early stage and agreement reached on whether they fall outside the scope of the project as originally specified. In such an instance a further project can be put up to cover the additional work at a price agreed between both parties that is solely for the provider to bid on.

In the case of disputes both parties may confirm a reduced fee with the balance returned to the project manager. This could arise where the consultant becomes ill and cannot complete the work. Note for project managers: this is rare in our experience as most consultants operate as businesses whereby delivery isn’t down to just one person.

In the rare instances that the dispute cannot be resolved between the parties we can provide access to dispute resolution services. If either party becomes unresponsive we will try to facilitate the matter.

How do I access Escrow?

Log in to your member’s account. The Escrow menu can be accessed below your member account transaction details.