Safe Funds Transfer (Escrow):

The "Safe Funds Transfer" or "Escrow" service is provided to all FlipShark.com members, free of charge, to ensure that each and every transaction is safely completed on FlipShark.com

The Safe Money Transfer service protects both the Project Manager (buyer) and the Project Creator (freelancer) in case of any disputes that may arise during the project.

The Safe Funds Transfer Service allows buyers to securely set aside a specified amount of money from their account, this amount is then held for a specified freelancer and a specified project, until the project's completion.

Both parties have the ability to see the funds that are being held in Escrow by the Safe Funds Transfer Service; however only the Project Manager can pass the funds on to the Freelancer, and only the Freelancer can return the funds to the Project Manager. Thus giving each party 50% control of the money during the course of the project.

How does this protect the Project Manager (webmaster)?

Since the Project Manager (webmaster) is the only person (besides the site admin) who can pass the funds on into the Freelancers account. He or She will have complete control of all their money until the project is completed successfully; without having to worry about losing their funds.

The project manager is protected because:

• If the job is not completed as specified in the project description, the project manager's funds are returned to him.
• If the freelancer does not complete the project within a resonable timeframe as decided in his/her bid, the the Project Manager can get his funds back.
• If the quality of the project is understandably considered "sub par", the Project Manager's funds can be returned.

How does this protect the Freelancer (programmer/designer)?

Since the Freelancer (programmer/designer) is the only person (besides the site admin) who can return the funds back into the Project Manager's account. He or She will also have complete control of all funds until the project is completed successfully; without having to worry about doing the work and not getting paid.

The freelancer is protected because:

• If the job is successfully completed as specified in the project description, and all deadlines are met, the Freelancer can request payment from admin if they are not paid.
• If the freelancer completes the project as outlined in the project description, only to have the project manager request a ridiculous number of revisions or additions before payment, the Freelancer will still be paid for his work without having to do the revisions/additions (Provided these revisions/additions were not listed in the project description).

Further Explanations Through Examples:

Take this situation: Bob (a project manager) choses Sally ( a freelancer) to develop a website for him.
Sally knows Bob will pay her for her work because she can see the funds have been deposited safely in escrow; this means Sally doesn't have to worry about doing all the hard work, only to be stiffed when it comes to the bill.
Now, at the same time, Bob knows the work will be completed to his specifications because Sally doesn't get paid until Bob is satisfied.

Potential Problems Bob and Sally may have

• Bob needs his website designed within 30 days. Sally (when placing her bid) says she can easily complete the project within 30 days. After accepting the project, Sally becomes very busy with other work, and doesn't even get started on Bob's project until 2 months later. By this time Bob has already hired someone else for the project and they have completed it for him. Since the Freelancer (Sally) went well beyond the deadline for this project, the Project Managers funds would be returned to him (IE Bob would get his money back). Please Note: If a project is only a few hours, or days late, it will be up to the admin to decide whether a refund will be given
  
  
• Sally completes the project as specified in the project description. A few days go by and she is unable to contact Bob about being paid. A few days later Sally notices Bob is using her website design on his website. Sally provides proof to the admin that the work is hers and she gets paid.
  
  
• Bob clearly asks for his new website design to have a header, footer, and main text area, as well as a short ten second flash intro. All are asked to be professionally done, using a template that can be used for multiple pages. Sally provides Bob with one standard page, not separated into headers and footers, that cannot be used for multiple pages, and Sally provides no flash introduction whatsoever. Bob contact the admin, shows what work was provided (if any) and has part or all of his money refunded as decided by the admin.
  
  
• Bob clearly asks for a 20 second flash introduction for his website. After Sally provides him with his flash intro as specified in the project description, Bob tells Sally she must create a website to match the intro, a navigation menu, a short animation, plus cook him dinner for the next month, in order to get paid. Since Sally's bid price did not include all this extra work, and all this extra work was not listed in the project description, Sally can contact the admin to get paid.