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How are payments managed?

Findmy.Team operates an ‘escrow’ system to handle payments between project owners and freelancers.  An escrow is a financial arrangement where a third party holds and regulates payment of the funds required for the two principal parties involved in a given transaction. It helps make transactions more secure by keeping the payment in a secure escrow account, which is only released when all of the terms of an agreement are met.  As the process is overseen by a neutral third party (in the case Findmy.Team) both sides can have confidence in the process.

Let’s take this case as an example for flow of payment in Findmy.team:

  1. Daisy posts a project looking for help writing recruitment advertising. The project would take 3 days and its budget is $1300.
  2. John – a freelancer – apply’s for Daisy’s project with a bid of $1200.
  3. Daisy accepts John’s bid.  She now has to send the $1200 project payment to the Findmy.Team escrow account to start the project.
  4. Next, Daisy and John enter the workspace, officially marking the start of the project and John can begin work.
  5. When John completes his copy writing, he checks sends a message to Daisy on the project Workspace to let her know.  (Note – clicking ‘Discontinue‘ registers a dispute).
  6. If Daisy is happy with the work she adjusts clicks ‘Finish‘ on the project workspace. (Note – clicking ‘Close‘ registers a dispute).
    Within 24 hours, our account team will review the project. If everything is OK, our admins change the project status as ‘Completed‘.
  7. At this point, the escrow account will transfer the project payment to John.
  8. Please allow up to seven days for payments to clear.

 

Diagram Illustrating Payment Process

Payment Process

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