Milestones are parts of a contract, that manage payments.
What’s a milestone
Either the freelancer or customer creates milestones within a contract. They are used to split the contract into manageable sections. Every milestone has a description, a deadline, and a value. They can be used to pay for anything, for example:
=> An expense
=> A task
=> Some time
=> Literally anthing that you type
Types of Milestones
1. Individual / single milestones.
These can be for anything. Individual milestones must be paid by customers in advance and these funds are held in ‘Escrow’ (for up to 90 days if via Stripe). When the customer clicks the ‘Approve’ button, the funds are released to the freelancer.
2. Repeating milestones.
The user must specify the hourly rate, the number of hours per period, and the period length (week or month). The customer must manually ‘start’ the milestone. The freelancer can then update how many hours they have completed and leave a comment. At midnight on Sunday (GMT +1), whatever is the latest submitted hours will be invoiced to the client. The client then has a period of time to dispute the payment. For weekly milestones, they have until the following Friday. For monthly milestones, they have until the first Friday of the following month. If they don’t dispute it, they will be charged and the funds are automatically sent to the freelancer.
Milestones must be approved by both users to begin. For recurring milestone, they can be paused and restarted, and ended. When they are paused or ended, the final period will still be processed as normal.