Outsourcing Escrow (Book Excerpts)

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Curious about outsourcing and escrow? Our book, “Outsourcing Through RentACoder” explains it all. Below are a few selected snippets that describe its importance and why you, as an outsourcer, should care. For details, head on over to this page and order the book. Then complement what you find here with the content in our growing outsourcing articles library (the book’s ‘online extension’).

Outsourcing Through RentACoder (now, vWorker) is a 418 page step-by-step user guide for entrepreneurs who want to reduce their workload and increase productivity at the same time.

Excerpts:

• But instead of making a down payment for an outsourced service (the way companies do for offline contractors), buyers place an agreed amount of funds into escrow — released only when a service is satisfactorily completed. (page 41)
• If no resolution can be found, and a coder is found innocent of causing a delay, the guilty party (the buyer) has to surrender a percentage of escrowed funds and tolerate a tarnished reputation! (page 89)
• It also provides a Safe Project Escrow™ process that guarantees buyer satisfaction prior to payment. We explain all of that in detail a few chapters down. (page 117)
• Buyers must not contact a coder outside of the website before escrowing appropriate funds. (page 125)
• Because these types of requests are difficult to escrow and arbitrate, they’re somewhat a separate entity of RentACoder (now, vWorker) and therefore don’t operate by the same rules. (page 177)
• Individuals or companies who outsource through RentACoder (now, vWorker) can pay by performance with a percentage of escrowed funds at the end of each milestone. (page 278)
• Instead of putting up one lump sum into escrow, buyers Paying for Time compensate coders for time spent working on a project. (page 282)
• This section assumes that you’ve selected and notified your preferred coder that s/he’s got the job. It also assumes that you’ve escrowed appropriate funds and the outsourced work is about to commence. If so, congratulations – you’ve accomplished so much! (page 292)
• However, unlike with a Pay for Deliverables arbitration in which a winning buyer retrieves all of his/her escrowed funds, a winning buyer in a Pay for Time arbitration simply doesn’t pay for a contested time period. (page 343)
• Rentacoder’s maximum budget and escrow system protects buyers from making unaffordable propositions. With these two tools, you never have to worry about biting off more than you can chew. You only pay what you can afford. (page 370)

Order Outsourcing Through RentACoder:

Outsourcing Through RentACoder (now, vWorker) is a 418 page, 7.44″ x 9.68″ paperback book, fully illustrated and filled with everything you could possibly need to successfully outsource your tasks the first time.

Inside, you’ll find a slew of outsourcing know-how, over a dozen online checklists, worksheets, and more. It also introduces an outsourcing roadmap exclusive to the RentACoder (now, vWorker) website. Order it here.