Invoicing and Escrow payment

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Colin

• May 25, 2021 17:44

Can anybody clearly tell me how invoicing and escrow payments work?

I'm really confused.

 

I have bid on a job for £500, of which £100 is an escrow payment.

I have been awarded the job and completed it and now I'm ready to be paid for it.

 

How much do I need to invoice?

Is it the full £500?

When I do this, it takes off the escrow payment.

 

Or is it 1 invoice for £400 and another for £100?

Or does the escrow payment get paid automatically and I don't have to raise an invoice?

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  Daniel

  • May 25, 2021 17:50

  Invoice 500. It will appera 100 from escrow and 400 from the buyer.

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  Dave

  • May 26, 2021 11:57

  If you have completed the full £500 of work then invoice that now

  Advice, always get the buyer to deposit the full amount of the work at the start. You will get many that disappear, and/or wont pay the balance. Trust me, always ask for the full amount up front, there is no risk for them at all

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