After the buyer awards the project - what happens next?

Once a buyer chooses a proposal, the provider will be notified.

Step 1: The provider will review the default Business Terms for that project. The Business Terms will be defaulted as follows:

• Final Milestone Amount is defaulted from the Bid Amount.
• Final Milestone Date is defaulted as "Estimated delivery timeframe" plus the award date. Example, if the estimated project delivery date was specified as "1 week" on the bid, one week will be added to the award date.

Step 2: The provider can either Accept or Modify the Business Terms.  

• If the provider is satisfied with the default Business Terms and clicks Accept, the Business Terms will become active immediately. No further action is required by the buyer. 
• If provider makes changes and submits, those changes will be sent to the buyer. The buyer will need to be approve in order for the Business Terms to become active.

How should the Business Terms be updated?

Providers and buyers should ensure that the Business Terms clearly defines their understanding of deliverables, milestones and payment terms. The most important aspect of the Business Terms is the milestones. The amounts associated with each milestone outlines when and how much the provider will be paid after the delivery of the milestone. Click here to read more about milestones. The provider can also attach a Project Agreement document to further define the project scope and payment terms.  This document should include both parties' business names, addresses, and phone numbers.  

What if changes come up during the project?

If any changes arise during the lifecycle of the project, buyers or providers can update the Business Terms as necessary.  Either party may initiate changes to the Business Terms, but the other party will need to approve the changes in order for the new Business Terms to become active.  If a milestone amount is changed or a milestone is deleted, the system automatically refunds the appropriate milestone amounts currently held in Escrow back to the Buyer's original form of payment.

NOTE: Both parties should use the Private Message Board (PMB) to negotiate and document any modification to the Business Terms.