FAQ: How does the escrow service work?
Maybe you and your new business partner are working together for the first time and not sure who should carry the financial risk, either:
- The freelancer first completes (a part) of the project, but runs the risk that the client may not pay, or
- The client pays first, without knowing whether the freelancer will ever deliver an acceptable result.
An alternative offered by Freelancing.hk is a trusted third party payment service. It is easy to use without requiring advance notification:
- Before the project starts, the two parties agree on the deposit amount.
- The client transfers the appropriate amount to our paypal account at email@example.com. As transfer comment, please use trust deposit of A. Smith for freelancer B. Miller.
- Freelancing.hk informs both parties that the money has arrived on our account.
- Once the project is completed, the client informs us and Freelancing.hk transfers the amount to the freelancer.
- In the very rare case that client and freelancer cannot agree, both parties might clarify the payment via arbitration or through the court. Freelancing.hk will then transfer the amount according to the arbitration or court´s decision.
There are no fees for using our trusted third party service. No interest is paid on the deposited amount.◄ Back to FAQ
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