Sample Payment Terms
The following is an example of payment terms typically defined by a freelancer when submitting a project bid. Feel free to define any payment terms that best suit you and that you feel will be agreeable to the employer.
Before working on this project, I will require a down-payment from the employer. Project work will begin immediately following the receipt of this initial payment. Subsequent payments are required upon the completion and acceptance of major project milestones. Here is a summary of the payment schedule:
25% due upon award acceptance
25% due upon first milestone completion
25% due upon second milestone completion
25% due upon project completion