FAQ: How does the escrow service work?
Maybe freelancer and client are working together for the first time and not sure who should carry the financial risk, either:
- The freelancer first completes (a part) of the project, but runs the risk that the client may not pay, or
- The client pays first, without knowing whether the freelancer will ever deliver an acceptable result.
An alternative offered by Zealancer is an escrow service. It is easy to use without requiring advance notification:
- Before begin to work on a project, the two parties agree on the deposit amount.
- The client transfers the appropriate amount to our bank account (010530 - 0233696 - 00) with 'Trust deposit of A. Smith for freelancer B. Miller' as reference.
- Zealancer informs both parties that the money has arrived on our account.
- Once the project is completed, the client informs us and Zealancer transfers the amount to the freelancer.
- In the very rare case that client and freelancer cannot agree, both parties might clarify the payment via arbitration or through the court. Zealancer will then transfer the amount according to the arbitration or court's decision.
There are no fees for using our escrow service. No interest is paid on the deposited amount.◄ Back to FAQ
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