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Wednesday, January 13, 2010

On 12:15 PM by Roderick Allan Baylon
Escrow is a feature that you can use at freelance sites.
An escrow account is an account maintained by the freelance site. The freelance sites that incorporate Escrow require buyers to deposit funds before the project is allowed to begin.

If you are a service provider with good ratings, you should always use Escrow. Escrow ensures payment of your services. Some buyers or project owners scam providers by not paying for the rendered services. After a project is completed and the reports are submitted, the buyer can't be contacted again. If you did not use Escrow, the freelance site can't help you demand payment from the buyer. Don't get ripped off by not using a freelance site's Escrow service.

Others suggest new comers not to use Escrow as buyers do not like to use Escrow when they are hiring new people for their projects. The reason is that some new comers fail to complete the project and in case the buyer has placed money in Escrow, then the buyer will have to wait for few days for his/her funds to be returned by the freelance site.

My suggestion for newcomers with no ratings is to use Escrow if the project is long term or requires one month or more to complete. For short-term projects, like 15 days or less, you have the option to ask for Escrow.

One more tip, check the buyer's review(s) first, try to go thru the comments of paid providers. You will get some ideas of the buyer's reputation and ability to pay on time.