Escrow Payment Terms - Stafify 3P™ (Payment Protection Program)
Service Marketplace (Client Projects) Fixed-Price - Escrow Payment Terms
How It Works?
Escrow Payment - The Client needs to pay for the Winning One-Time Project or Project Milestone in Escrow within Twenty-Four (24) Hours so that the Agency or Freelancer can commence on working the project.
Contract Signing - The Relationship Manager will submit the Project Agreement on behalf of the Agency or Freelancer to the Client. The Client needs to sign the Project Agreement within five (5) Working Days in order for the Agency or Freelancer to commence on the Project.
Commencement - The Client will Discuss and Direct the Project and the Freelancer will Commence on the Project.
Submission - The Agency or Freelancer will Submit the Project Work Product to the Client for Approval prior to the reasonable Client Project Deadline.
Approval - The Client needs to review without delay the Project Work Product within five (5) Working Days, if the client Approved the Project Work Product, the Client needs to authorize and submit a "Notice of Irrevocable Release of Funds" to the Stafify Relationship Manager to release the funds to the Agency or Freelancer. In the event, that the Client doesn't Approve or Disapprove the submitted Project Work Product of the Agency or Freelancer without cause and after the given review time, the paid, verified, and true Escrow Payment will be automatically released to the Agency or Freelancer on the sixth (6th) Day.
Disapproval (With Cause) - If the Client provides Reasonable Disapproval of the Project Work Product (Based on the Project Brief, Scope, or Description), the paid, verified, and true escrow funds will remain on hold and the Agency or Freelancer must complete the project within five (5) Working Days or until the project deadline.
Disapproval (Without Cause) - If the Client provides Unreasonable Disapproval of the Project Work Product (Outside of the Project Brief, Scope, or Description) and is not capable of cure, the paid, verified, and true escrow funds will be automatically released to the Agency or Freelancer who completed the project deducted our 20% Service Fee of the total sales transaction including all applicable bank charges on the sixth (6th) Day or after the given review time of five (5) Working Days to the Client.
Pending Completion - If the Agency or Freelancer doesn't work on the Client's Reasonable Disapproval of the Project Work Product (Based on the Project Brief, Scope, or Description), the Agency or Freelancer will be automatically banned and removed from the Service Marketplace. Moving forward, the Client Project will be reassigned to other Agencies or Freelancers, or the paid, verified, and true Escrow Funds will be automatically refunded to the Client deducted all applicable bank charges on the sixth (6th) Day or after the given curing time of five (5) Working Days to the Agency or Freelancer.
I. Apart from issues relating to your legal status, we acknowledge our intention that all questions or differences which may arise between the Client and the Agency or Freelancer concerning this agreement, its subject matter, or interpretation, will be resolved amicably by negotiation.
II. Where any question or difference is not resolved pursuant to section 9. I., either party may require the dispute to be referred to mediation by giving notice to the other party setting out the nature of the mediation. The mediation shall be conducted in Olongapo City, Philippines or Online.
III. Both Parties shall agree on the appointment of a mediator but in the absence of agreement a mediator shall be appointed by Stafify via its Tele-Law (Mediation/Arbitration Service)
IV. Both Parties will appoint a representative with authority to settle the matter who will participate in the mediation and use their best endeavors to reach an agreed solution.
V. All proceedings and disclosures in the course of the mediation will be conducted and made without prejudice to the rights and position of the parties and any subsequent arbitration or other legal proceedings.
VI. No decision or recommendation of the mediator will be binding on the parties in respect of any matters other than the conduct of the mediation.
VII. The costs of the mediation other than the parties’ legal costs will be borne equally by the parties, who will be severely liable to the mediator in respect of their respective share of the mediator’s fees.