There are typically three protection types when it comes to executing projects on Vulpith. Zero Protection (Non-Escrow or Zero Fee), Escrow Protection and Escrow + Data Protection. You can choose the protection type while posting a project and can be changed at any time until it is awarded.
These three protection types are explained below:
When you want to take care of financial transactions and deliverables outside the platform. Typically useful for small and risk free projects.
When you want escrow protection against your payments. You choose this typically for medium to big projects and when you are working with strangers. There is a nominal Vulpith fee in Escrow protected projects and is applicable to Freelancer/Agency.
When you want both escrow protection and confidential data protection against your payments and data. You choose this typically for medium to big projects and when you want to protect your confidential data or intellectual property. Data protection comes with our integrated cloud workspace with an additional cost to Client, but it is worth the money! Know more about how you can protect your project data with cloud workspace Click here. And escrow protection comes with a nominal Vulpith fee and is applicable to Freelancer/Agency.
Cloud workspaces not only protect data but are also immune to viruses/ransomware/malware and other cyber attacks. Click here to know more
The amount mentioned when posting the project is an estimated amount only. While hiring you can mention the award amount (Fixed/Hourly) and once the Freelancer/Agency accepts the project, you are good to go. Every project must have at least one milestone. You can also divide awarded project into various milestones and define each milestone's scope, terms, deliverables and amount for that milestone. For some milestones, you need not upload funds, for example a meeting to discuss, or a report to submit etc. But every milestone must be accepted by Freelancer/Agency. Remember that our platform is highly flexible, hence the awarded amount is just a placeholder again and hence the actual milestones you paid are the actual cost of the project for that Freelancer/Agency.
Members can use the platform for free without any add-on services and when choose to do their financial transactions outside the platform (Zero Protection / Non-Escrow projects). However, Vulpith does not recommend you to undertake financial transactions outside the platform as there is no protection for your efforts/payments. Vulpith is no way responsible for anything that happens outside the platform in such cases.
If you are a Client and concerned about data security and value for your money and protection for your payments OR if you are a Freelancer/Agency and concerned about your efforts you put in, choose Escrow or Escrow+Data protection to make your life happier