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Navigating One-Time Escrow Projects
Navigating One-Time Escrow Projects
Client-Success avatar
Written by Client-Success
Updated over 4 months ago

One-time projects offer a straightforward approach for clients to engage contractors for specific tasks or deliverables. Here's a guide to navigating one-time projects, including both fixed and hourly types, on Contra:

Understanding One-Time Escrow Projects

One-time projects are designed for tasks or projects with a defined scope of work and a finite duration. Clients can choose between two types of one-time projects: fixed and hourly.

Fixed One-Time Escrow Projects

In fixed one-time projects, clients and contractors agree on a set scope of work and a fixed payment amount for the entire project. Clients pay the agreed-upon amount upfront, and contractors complete the project according to the specified requirements. Fixed one-time projects are ideal for tasks with well-defined deliverables and a clear project scope. It’s important to note that upfront payments are non refundable.

Setting Up Fixed One-Time Escrow Projects

Clients initiate fixed one-time projects by defining the project scope, specifying the payment amount, and establishing the project duration. Contractors review the project details and accept the project if it aligns with their expertise and availability. Once the project is completed, clients review the deliverables and approve the final payment.

Hourly One-Time Escrow Projects

In hourly one-time projects, clients pay contractors based on the actual time spent on the project. Contractors track their hours worked and submit them for client approval and payment. Hourly one-time projects are suitable for tasks with flexible requirements or uncertain project scopes.

Payment Structure for One-Time Escrow Projects

For both fixed and hourly one-time projects, clients make a one-time payment to contractors based on the agreed-upon terms. Payments are processed securely by Contra, ensuring that contractors receive timely compensation for their work.

Flexibility in One-Time Escrow Project Duration

Clients have the flexibility to determine the duration of one-time projects based on their project requirements and timelines. Whether it's a short-term task or a more extended project, clients can adjust the project duration to meet their needs.

Managing One-Time Escrow Project End Dates

Once a one-time project is completed, clients review the deliverables and approve the final payment. Contra provides a streamlined process for clients to review and accept project deliverables, ensuring that contractors are compensated promptly for their work.

In summary, one-time projects offer a convenient and efficient way for clients to engage contractors for specific tasks or deliverables. With clear payment structures and flexible project durations, clients can effectively manage their one-time projects on Contra.

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