1. What is Elance Escrow?
Elance Escrow is a secure payment method used on the Elance platform to ensure that both parties in a freelance project are protected.
2. How does Elance Escrow work?
**Elance Escrow works by allowing the client to deposit funds for a project into a secure account. The funds are held until the project is completed to the client’s satisfaction, at which point they are released to the freelancer.**
3. Can clients withdraw funds from the escrow account before the project is completed?
No, clients cannot withdraw funds from the escrow account before the project is completed. This ensures that freelancers are paid for their work.
4. What happens if there is a dispute between the client and the freelancer?
If there is a dispute between the client and the freelancer, Elance’s dispute resolution team can step in to help mediate and come to a resolution.
5. How are disputes resolved with Elance Escrow?
Disputes with Elance Escrow are typically resolved through a process of negotiation between the client and the freelancer. If an agreement cannot be reached, Elance’s dispute resolution team can step in to make a final decision.
6. Are there any fees associated with using Elance Escrow?
Yes, there are fees associated with using Elance Escrow. Elance charges a small percentage of the project cost as an escrow fee.
7. Is Elance Escrow safe to use?
Yes, Elance Escrow is safe to use. It provides a secure way for clients to pay freelancers for their work.
8. How long does it take for funds to be released from the escrow account?
The time it takes for funds to be released from the escrow account can vary depending on the specific terms of the project. However, once the client approves the work, funds are typically released within a few days.
9. Can clients cancel a project and get a refund of the funds held in escrow?
Clients can cancel a project and request a refund of the funds held in escrow if the project has not yet been started or if there is a legitimate reason for the cancellation.
10. Can freelancers request a partial release of funds from the escrow account before the project is completed?
Freelancers can request a partial release of funds from the escrow account before the project is completed, but this must be approved by the client.
11. What happens if a freelancer completes a project but the client does not release the funds from escrow?
If a freelancer completes a project but the client does not release the funds from escrow, the freelancer can dispute the issue with Elance’s dispute resolution team for assistance.
12. How can clients be sure that freelancers will deliver on their promises when using Elance Escrow?
Clients can be sure that freelancers will deliver on their promises when using Elance Escrow by thoroughly vetting the freelancer’s profile, portfolio, and reviews before hiring them for a project. This can help ensure that the freelancer is reliable and capable of completing the work to a high standard.