MyCoder Escrow is simply the advance fee paid by the Client to Algoji and Freelancer. The detailed, step-by-step process on how jobs are managed and payments made is given below:
1. Freelancer will make a Bid to the client for X amount (Budget) and N days’ timeline.
2. a. Client will accept the Bid and pay (MyCoder Escrow) X amount + transaction charges.
2. b. Client does not accept bid of any freelancer, or any freelancer does not bid for the Job. In this case Job will be automatically Closed after 28 days of posting.
3.a. Freelancer will deliver the service to Client within M days.
3.b Freelancer will request client, and based on Client’s approval, deliver after M+N days.
3.c. Freelancer does not deliver the work neither asks for extension to timeline, within timeline + 7 work days.
4.a. Client will approve Freelancer’s work and Job will be deemed closed.
4.b. Client points incompleteness of work and Freelancer submit work after P days. Client approves the work.
4.c. Client neither approves nor rejects Freelancer work in 14 days after submission.
4.d. Client rejects Freelancer work and files for dispute. Dispute is solved after X days in favor of client.
4.e. Client rejects Freelancer work and files for dispute. Dispute is solved after Y days in favor of Freelancer.
5. Date of Job closed will be deemed based on point 3/4 above.
6. IF date of Job closed between 1st and 20th of Month, Freelancer gets paid or Client gets refund, on the 1st banking day of next month.
7. IF date of Job closed falls on/after 21st of Month, Freelancer gets paid or Clients gets refund on the 1st banking day of next-to-next month.
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