Payment Terms and Conditions
1. Client Payments to CoSciWork
Clients can fund their projects on the CoSciWork platform after hiring an expert, using one of the following methods:
a. Stripe – Payments via Credit or Debit Cards (e.g., VISA, Mastercard, American Express, Discover, JCB).
b. Bank Transfer – An additional USD 25 applies as transfer charges. This option is recommended for amounts exceeding USD 1000.
Important Details:
- Once funds are released for a project, the platform automatically generates an invoice for the total project value.
- Freelancer to Client Invoice: Reflects the entire amount transferred for the project.
- All funds are initially added to the client’s CoSciWork Wallet. Clients then allocate funds to their projects.
- The allocated amount becomes the Committed Balance for that project, which is used for payments to the expert.
- Any remaining balance in the wallet is categorized as Uncommitted Balance.
- CoSciWork does not charge clients any processing fees for using these payment methods.
2. CoSciWork Payments to Freelancers
Freelancers receive payments via Payoneer, with a 20% service charge deducted as CoSciWork’s fee.
Important Details:
- Freelancers must have an active Payoneer account to receive payments.
- The 20% service charge applies to all payments received from clients.
- A Minimum Balance of USD 49.99 is required before payout processing.
- Upon fund release by the client, the platform generates:
- Client to CoSciWork Invoice: Covers the full payment made by the client.
- CoSciWork to Freelancer Invoice: Details the 20% service fee charged to the freelancer.
Disclaimer:
- CoSciWork covers all charges for sending payments to freelancers. However, any receiving fees imposed by the freelancer’s bank or losses due to foreign exchange fluctuations are the freelancer’s responsibility.
- Freelancers using a pre-paid card through Payoneer must bear the associated card fees.
Exemptions: Forex charges are not applicable for freelancers receiving payments in USD or local currency via Payoneer.