Starting September 20, we will discontinue charging Freelancers a 2% escrow fee when an escrow account is created. Instead, we will charge a 5% dispute resolution fee ONLY for escrows that require Mediation or Arbitration. Currently, only 3 out of every 100 escrow accounts created require Mediation or Arbitration Services. This change should significantly lower the fees charged for using Guru Escrow Services.
How will the dispute resolution fee work?
If Mediation or Arbitration services are required for an escrow:
- Guru.com will deduct 5 percent (minimum $25) from the total amount in escrow. Guru.com will help mediate or arbitrate the dispute.
- The remaining funds will be divided according to the Mediation or Arbitration.
Why are we charging a dispute resolution fee?
The new dispute resolution fee will:
- Reduce fees for those who use the escrow service and do not need Mediation or Arbitration assistance. (Currently, Freelancers pay a 2 percent upfront fee when an escrow account is created—even if dispute resolution services are not needed.)
- Encourage Employers and Freelancers to resolve disputes over escrowed funds themselves—especially when a dispute occurs over a small amount.
Starting September 20, we will charge a 5 percent dispute resolution fee for escrows that require Mediation or Arbitration.
We welcome your feedback and comments.