Based on the freelancer's proposal, the employer creates a contract draft and sends it to the freelancer for review. When the freelancer accepts the contract draft, the employer creates the Contract on Ethereum Blockchain.
When the freelancer completes and Request Payment for a milestone, the employer reviews the freelancer's work and can request changes if required or
- Employer Pays Payment Request
- Freelancer Withdrawal
- Employer/Freelancer Cancel Contract
The amount charged to the Employer is calculated as follows,
Amount Charged = Requested Payment Amount + BlockMyTalent Fee
Once the employer transfers the amount charged to the Contract’s Escrow Account, requested payment amount is made available to the freelancer for withdrawal from the Contract’s Escrow Account to his/her Ethereum Account and if the requested payment is for the last milestone, the contract is marked as COMPLETED.
The employer pays the gas fee for this transaction.
When the freelancer initiates Withdrawal, BlockMyTalent Fee is deducted, and the remaining amount is transferred to his/her Ethereum Account.
The freelancer pays the gas fee for this transaction.
If the employer or the freelancer is not satisfied with the Contract(work), they can initiate Cancel Contract, then the balance from the Contract’s Escrow Account, if any, is assigned back to the Employer for withdrawal and the contract is marked as CANCELLED.
CANCELLED contracts count towards your statistics as Disputes unless a cancelled contract is extended using Extend Contract option.
Whoever initiates the transaction pays the gas fee for this transaction.
If the employer want to modify the existing milestones of the contract or add new milestones, employer can use Extend Contract and initiate the hiring process with the freelancer again. If the freelancer wants to modify the existing milestones of the contract or add new milestones, freelancer can request employer to Extend Contract
Note: Extend Contract option will be enabled for the employer only after the ongoing ontract is CANCELLED.