Terms of Payment and Payment Schedule

Know when you will get paid for your project and how to manage your expectations

When you receive an invitation to a project, you can see all the information about the project in the 'Brief Detail' tab.

Please pay extra attention to the payment terms the client sets for the project.

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Figure 1: See the terms of payment at the top of the 'Brief Detail' tab

Clients can choose one of the following Terms of Payment:

  • 50% downpayment + 50% settlement - you get 50% of the amount before the project starts, and the remaining 50% after project gets completed and a client settlement period
  • 100% upfront - your payment will be made 45 days after the project is completed
  • 100% settlement - the entire amount is paid after project gets completed and a client settlement period.

Now, it is very important you understand what we mean by "Project completion". This means that all the creators (including you) in the project have completed their obligations towards the client:

  • Content creation (and posting for sponsored content creators), 
  • Submit proof of work (and performance reporting for sponsored content creators)
  • Raised an invoice

Once the project is completed, the client will pay GetCraft after the settlement period indicated. The settlement periods clients can choose from are:

  • 30 calendar days after project completion
  • 60 calendar days after project completion
  • 90 calendar days after project completion

GetCraft will then take an additional 15 days (regardless of the client's settlement period) to process your payment, before the funds are transferred to you.

To summarize, you will receive the payment after <no. of settlement days after project completed> + 15 days (for GetCraft's processing).

Example:

If you are a part of a project with multiple creators and you were the first to post content on the first day, then submitted your proof of work and performance report in 7 days. The last creator posts their content 2 months (60 days) after you, and submits the required proof of work and performance reports after 15 days. 

This means the payment's settlement period countdown will only start after the last creator has posted the content - 75 days (60 + 15 days) after you posted your content. If the client chooses settlement period of 90 calendar days after project completion, you will get paid after 180 days:

  • 75 days for project completion
  • 90 days settlement period
  • 15 days for GetCraft processing.

** Hence, it is important to pay attention to the client's Terms of Payment. You can inform the client in your pitch that you will be charging a slightly higher amount than usual due to the amount of time you have to wait for the payment. This way, you justify to the client the higher cost of content.

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Figure 2: Inform the client in your pitch that you will be charging more


Do remember, although you could increase your rate for projects with long settlement periods, do not charge ridiculous amounts and justify it with the amount of time you have to wait for the payment. Once you deem the amount you entered sufficiently compensates you, click on 'Submit Pitch'.

Service Fee to 5 - Creator Calculator

Figure 3: Enter the amount you feel compensates your work and the amount of time you have to wait for the payment - based on the client's settlement period.

Note: GetCraft charges a 5% service fee from the total quote, so we'd suggest that you revisit your pricing to remain competitive and win more projects!

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