Milestone Payments allow secure payments between employer and freelancer for the funding of a project. We recommend the Milestone Payment System for getting paid on a project awarded to you. No other method is safer.
How it normally works is the employer creates a Milestone Payment for you. The Milestone Payment is held by Freelancer.com for safekeeping. When you’ve done your job, finished the employer’s task(s) and/or submitted what was required, it’s time the employer releases the Milestone. The money will reflect on your account once it is released. This feature is available for both Fixed Price and Hourly projects.
While a Milestone Payment is pending (created by the employer but not released), it cannot be cancelled by the employer. You can set your mind at ease knowing the money is locked for when you complete the project. It is rather encouraging realizing you’ll get paid at the end of your efforts.
In case the employer, for some reason, refuses to release the Milestone, you can utilize the Dispute Resolution Service. It’s a safety feature exclusive to the Milestone Payment System where users can make a claim for the release or return of the money.
Milestone Payments offer more versatility in the way they're implemented. The employer can create a Milestone Payment for a project even before they select a freelancer - these are called Prepaid Milestones. Prepaid Projects demonstrate an employer’s sincerity with regard to completing projects.
What’s more, you have the option to create Proposed Milestones even as you’re bidding on a project. With this, you can propose to the employer a payment schedule based on the project’s progress.
You can even initiate the payment by sending Milestone Payment Requests through the project page.
Another incentive to using Milestone Payments is that it will help you build your reputation as a freelancer. A more prominent reputation puts you higher in bid rankings. The higher you are, the more likely you will be picked and the more money you will earn. Don’t forget your Completion Rate, which is displayed on your profile. Employers tend to hire freelancers with a high Completion Rate.
Both your reputation and Completion Rate depend on project completion, and a project gets completed when the freelancer is paid in full. To make projects more versatile, a new approach to completing projects is now made available to users: A project can be partially paid and then manually marked as completed by the employer.
Note: Instead of Milestone Payments, users can choose to make payments through invoicing, which is the recommended form of payment for Hourly projects.
Once you are paid, the funds will be transferred to your account balance on the site. You can check the payment by going to your Transaction History page. You can then get your money by filing a withdrawal request for it.