Agreements play an integral role in setting up when you get paid. To avoid late payments and disputes, be sure you include the following elements each time you create an agreement.
1. Milestones (for fixed-price jobs)
It is very important to set clear, practical milestones, because they are directly tied to payments. An invoice is automatically generated for each milestone, based on the due dates you set. You can create and send an invoice for a milestone any time on or after its due date. If you want to invoice earlier, mark the milestone as 100% complete using the progress bar on the “Status” page in the work room, and the invoice will appear for you to send:
2. Team Members (for hourly jobs)
List the rate, maximum hours per week and billing end date for each team member you assign to a job. You and your team members can track time for the job from the moment the agreement becomes effective through the billing end date. Tracked time shows up on the “Status” page for you to monitor and edit. Invoicing for tracked time happens automatically. We create the invoice for your review on Monday and send it to your employer on Tuesday.
3. Minimum SafePay Balance / Percentage of Weekly Pay Secured by SafePay
Secure your work by requiring a minimum SafePay balance. For fixed-price jobs, we prompt your employer to fund the milestone you’re working on, as well as the next one. For hourly jobs, we prompt them to fund a percentage of the maximum hours that could be tracked for the upcoming week. As long as there are funds in SafePay, you are automatically paid.
4. Grace Period
Require that your invoices be paid within 7, 14 or 28 days of receipt. Of course, your employer can pay sooner if they want. If your employer fails to pay within the defined grace period and there are funds in SafePay, your invoice is automatically paid (barring any disputes).