Let’s face it, one of the biggest obstacles to using freelancers is the security of payment.
If as a business, you can’t be certain of getting the work you paid for, as deposit or in full, why would you give up the usual consulting firms line up?
You would like the assurance of knowing that you’ll be able to REVIEW and APPROVE work before releasing payment to the freelancer.
This is difficult to achieve when dealing directly with Independent Consultants, given the need to put in a deposit right after you approve the terms of engagement. This becomes even more difficult when the Independent Consultant is working remotely.
One Circle in partnership with Truzo offers a digital escrow functionality to protect both clients and freelancers.
Truzo is registered with both Financial Sector Conduct Authority (FSCA) and Payments Association of South Africa (PASA). Truzo was voted Top 7 South African Innovations by UK Government Go Global TechHub, awarded the Top 20 Award by South African Small Business Awards 2019, shortlisted as a top 5 MTN business app of the year, and voted Top 5 best app in Africa by Apps Africa.
With escrow, clients fund their project in advance, but funds are only released to freelancers when milestones are reached and work is completed to the satisfaction of the client. In this manner, the client’s funds are protected until all work is approved.
Escrow also gives assurance to freelancers who know that the entire project is funded before they start any related work.
What is ESCROW?
It is best described as a trusted neutral holding place where funds are placed until work is done to an agreed level of satisfaction. The funds stay there until the freelancer delivers the work to the client’s satisfaction.
Any disputes related to payment is managed through a clear resolution process with One Circle.
As with most things, communication is key.
Agreeing with a consultant upfront on a clear brief is crucial, and One Circle has collaboration friendly solutions to both facilitate and keep records of such agreements.
Join the Circle!