Escrow Policy

1. What is Escrow?

MicroJob uses an escrow-based payment system to protect both employers and freelancers. Escrow means that funds are held securely by the platform until work is completed and approved, ensuring fair transactions for all parties.

2. How Escrow Works

The escrow system operates through the following process:

• Job Posting: When an employer posts a job, the required funds are reserved from their Deposit Wallet
• Work Submission: When a freelancer submits their work, the payment for that submission is automatically locked
• Review Period: The employer reviews the submitted work and decides to approve or reject
• Payment Release: Upon approval, funds are instantly transferred to the freelancer's Earnings Wallet

3. Payment Lock on Work Submission

When a freelancer submits proof of completed work:

• The payment amount for that specific submission is immediately locked from the employer's reserved funds
• Locked funds cannot be used for other purposes until the submission is reviewed
• This protects freelancers by ensuring payment is available when work is approved

4. Approval and Fund Release

When an employer approves a submission:

• Funds are instantly transferred from the locked escrow to the freelancer's Earnings Wallet
• A service fee (commission) is deducted from the freelancer's earnings
• The transaction is recorded and visible in both parties' transaction history
• The freelancer can then withdraw their earnings

5. Payment Transparency

All payments are handled securely via Stripe and other supported payment methods.

6. Rejection and Fund Return

When an employer rejects a submission:

• The locked funds are returned to the employer's reserved job budget
• The job slot becomes available for another freelancer to claim
• The freelancer may revise and resubmit if the job allows revisions
• Repeated low-quality submissions may affect the freelancer's account standing

7. Auto-Approval Timeline

To ensure freelancers are paid in a timely manner:

• Employers have a set deadline to review each submission
• If no action is taken within the deadline, the submission is automatically approved
• Auto-approved submissions release payment to the freelancer immediately
• This prevents employers from indefinitely holding freelancer payments

8. Dispute Resolution

In case of disagreements between employers and freelancers:

• Both parties should first attempt to resolve issues through the platform's messaging system
• If unresolved, either party can raise a dispute through our support system
• MicroJob will review the evidence provided by both parties
• Our team makes a final decision on the dispute, which is binding
• Funds will be released or returned based on the dispute outcome

9. Escrow Protection Benefits

Our escrow system provides the following protections:

• For Freelancers: Guaranteed payment for approved work - no more chasing clients for payment
• For Employers: Only pay for work that meets your requirements - funds are protected until you approve
• For Everyone: Transparent transaction history, secure fund handling, and fair dispute resolution

10. Contact Us

If you have any questions about this Escrow Policy or need assistance with a transaction, please contact our support team at support@microjob.com.