Milestones are a way to divide your fixed-price contract into multiple deliverables and deadlines based on your needs. They let you break a larger contract into more manageable chunks of budget, and/or deliverables.
You and your freelancer should detail and agree on all your milestone payments, deliverables, and deadlines during the proposal and interview phase. Once a freelancer completes a milestone, you’ll have a chance to review the work before releasing a payment to them.
For each milestone, you’ll list specifically what your freelancer has agreed to provide. This way you both know what deliverables are expected, the deadline for deliverables, and how much you will pay for them. Be as specific as you can when naming your milestone. This is your chance to formalize the agreement between you and your freelancer.
Learn more about
- Review a milestone
- Approve a milestone
- Pay a bonus on a fixed-price job
- Reject or ask for changes on a milestone
- Activate next milestone
- End a fixed-price contract