Hourly contract are ideal for projects with continuous work (no specific deadline) or when unsure of the project's scope.
How it works:
- The Client set a weekly limit on Vendors' billable hours.
- Client fund one week of payments (maximum permitted hours) in advance to their wallets through their console.
- The Vendor logs their time through their console and submits their timesheet for work carried out each week.
- Clients have until seven days to review the work and file for a dispute, if necessary.
- If there is no update from the Client within seven days of timesheet submission, then the payments are automatically released to the Vendor in the next payment cycle.
- If the Client approves the timesheets, the payments are released to the Vendor in the next payment batch.
- Vendor payments are released in two separate batches each month i.e., the 15th and the 1st
- Payments due between the 1st and 15th of the month (post seven days submission period) are released at the end of each month. Similarly, Payments due between the 15th and end of the month (post seven days submission period) are released on the 15th of each month.
- In case the billed hours are less than the amount in the wallet, then the balance amount is automatically carried forward and added to the payment wallet for the coming week.
- If required, the Client may request a refund for the unbilled amount.