How do I pay the Freelancer for Fixed Priced Projects?

Created by Arbaz Shighrekar (WFM), Modified on Thu, 12 Feb at 6:51 PM by Arbaz Shighrekar (WFM)

If your project is Fixed Price, please follow the below steps:

Create and Attach Value to Milestones – You can break the project into specific milestones that represent key stages or deliverables of your project. You'll assign a monetary value to each milestone, which represents the payment the expert will receive upon successful completion.

Fund Milestones/Project: Fund the project or alternatively, you can fund upcoming milestones using the “Fund Project” button on Workspace.

Expert Initiates and Delivers Work: After the project is funded, the expert will initiate the work outlined in each milestone and deliver the completed work within the specified timeframe. Throughout this process, communication between you and the expert is key to ensure alignment and address any questions or concerns.

Approve Milestones to Pay Expert: Once the expert delivers the work for a milestone, you will review the deliverables to ensure they meet your requirements and expectations. If satisfied, you'll approve the milestone, triggering the release of the corresponding payment from escrow to the expert.

By following these steps, you can effectively manage payments for Fixed Price projects on Kolabtree, ensuring that both you and the expert are clear on expectations and compensated fairly for the work completed.