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Freelance Contract with Milestone Payment

The biggest risk clients have to put up with when looking for freelancers to assign some tasks to is the quality of the finished product. Many freelancers have not put quality control measures in place. Similarly, freelancers also face one of their biggest fears when bidding for or getting work from their clients. The biggest fear for freelancers is getting paid. It's because of this that many freelancing platforms have created freelancer milestone payment. Any freelancer worth his weight in gold who doesn't maximize this arrangement should be ready for disappointment.

Working as a freelancer makes it difficult for clients and workers to meet. In such cases, both freelancer and client have to find ways of trusting each other. The client has to trust the freelancer to do quality work. As for his part, the freelancer has to trust the client to pay the full amount and on time once he completes the project. Trust is a crucial quality in running a business, as the highly acclaimed published a few years ago. However, clients and freelancers who find it impossible to trust each other can rely on freelance milestone payment.

The milestone payment doesn't favor one person alone. It favors both the client and employer in equal measure. Under this system, a client releases full or staggered payments depending on the objectives the freelancer has fulfilled. The system also supports freelancers and clients who have adhered to the desired schedule. The employer or client decides the amount to set aside for each milestone or objective. It's OK for freelancers to set their own milestones. Milestone payments are great because of the security and motivation they extend to freelancers and clients alike.

The client can't cancel a milestone payment. The freelancer can't release the funds in milestone payment. This arrangement gives each party a 50 percent control over the milestone. The client is the only one mandated to release the milestone payment. On the other hand, the freelancer is the only one mandated to cancel the payment. With such solid controls in place, it's little wonder more freelancers and clients prefer this form of payment. Other payment methods that all freelancers and clients should embrace include:

  1. PayPal
  2. Payoneer
  3. QuickBooks
  4. Venmo
  5. Dwolla

Therefore, insist on freelancer milestone payment any time you wish do some freelancing work. It will spare you the headache and stress associated with fears of lack of payment.

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