Found a job that’s just right for you and the Client is interested too? That’s awesome! Once you’ve sent your Proposal and the Client has shown interest, you’re moving into the crucial Negotiations section. This stage is your opportunity to discuss Project details with the Client and send an Estimate.

For Service Providers understanding how to craft an effective Estimate and engage in fruitful negotiations is key to turning opportunities into tangible Projects. Your Estimate is more than just a quote; it’s a detailed plan for the Project that demonstrates your understanding and capability.

When starting your Estimate, the first thing to do is select a Billing Model. Your options include:

Hourly Flexible: This is great for projects where the full extent of the work isn’t clear yet or might shift over time. You’ll be compensated for every hour you spend working, which is great for tasks that continue over a period.
Fixed-Price: This model works best for Projects that have specific outcomes and a well-defined scope from the outset. It provides clear payment terms upfront, though it requires a detailed understanding of the Project’s requirements.
Recurring: Ideal for ongoing Projects that deliver consistent results over time. This model guarantees a regular income stream, but it does require explicit agreements regarding what needs to be delivered and the project’s timeline.

Based on the Billing Model you select, your Estimate can include various elements, such as:

• Currency: The type of money (USD, EUR, AED, GBP, CAD, AUD) used in transactions between Clients and Service Providers, chosen based on their geographical or economic preferences.
• Billing Period (for recurring Projects): The frequency at which payments are made for ongoing Projects, selectable as weekly, bi-weekly, monthly, quarterly, or semi-annually, depending on Project requirements.
• Recurring Payment: An automated financial transaction executed at predetermined intervals according to the selected billing period, ensuring consistent funding for ongoing Projects.
• Maximum Weekly Hours: The upper limit of hours a Service Provider is permitted to work and bill for in a single week, established to manage Project budgets and timelines effectively.
• Hourly Rate: Payment rate for each hour of work performed by the Service Provider, ensuring fair compensation.
• Budget Range: A financial range for the Project, setting clear minimum and maximum spending limits to guide Project expenditures.
• Project Timeframe: Expected start and end dates of the Project, providing a schedule for completion and milestone achievement.
• Payment Schedule (for fixed-price Projects): A timeline specifying when payments are due, based on Project advancement or the achievement of certain milestones.
• Escrow Initial Payment: A preliminary deposit made into an Escrow account to initiate a Project, serving as proof of the client’s commitment and providing financial security for the Service Provider.

Submitting your Estimate is the beginning of the negotiation phase. Be prepared for questions or requests for adjustments from the Client. This dialogue is crucial for reaching a mutually satisfactory agreement. Stay open to discussion, be flexible where possible, but also clear about your limits and capabilities.

Once you’ve submitted your estimate, the GetTrusted team will take a moment to review it before forwarding it to the Client.

You’ll receive an email confirmation to let you know that your Estimate has passed our review and is on its way to the Client.

In your dashboard, you’ll be able to track the status of your Estimate, at this stage your status will be ‘Verified’

On the Client’s end, they will be informed via email about the Estimate you’ve sent. This gives them the chance to look over the details and make a payment if everything meets their expectations. 

As soon as the Client makes the payment, we’ll send you an email to notify you that an Escrow payment has been made based on your Estimate.

Following the payment, the status of your estimate will be updated to ‘Approved’ in your dashboard, where you can also see your updated Escrow balance. With the Estimate approved and the payment secured, the Project officially becomes Active, and you can start working.

Remember, effective negotiation and accurate Estimates are foundational to your success on GetTrusted. They reflect your professionalism and commitment to delivering quality work, setting the stage for a successful collaboration with your Clients.