Sending an offer on a fixed-price job requires you to deposit funds for either the whole contract or a lesser amount to cover the first milestone. This deposit will be held in escrow until you receive the work, are satisfied, and release funds to the freelancer or agency.
You’ll need to write a description of what work you expect to be completed on this contract or milestone. Be as specific as you can. This is your chance to formalize the agreement between you and your freelancer or agency about what is to be delivered, when, and for how much money. If there’s a dispute later on, the description will be the basis for mediation.
How the offer deposit and work description look
This deposit will trigger three transactions on your Reports › Transaction History: one credit and two debits. You can see these in the example below. To learn more, go to the transaction history article.
|
Transaction Type |
+/- |
Where is the money going? |
|
Payment |
Credit |
Into your account from your billing method |
|
Fixed Price |
Debit |
To escrow to fund the milestone (or full contract) |
|
Processing Fee |
Debit |
To Upwork for this deposit’s payment processing fee |