Importance and Risks of Putting up Expert Guarantee

As mentioned before, freelance professionals use Expert Guarantee to convince clients of their experience and expertise on the project. It's a unique proposition for freelance professionals since this will allow them to practically "bet" that the project will be completed on time or else they will lose the money they’ve put up as expert guarantee.

The provisions on Expert Guarantee are very unique. This type of guarantee will require the freelance professional to deposit a percentage of the bid amount in an escrow account. This amount is used as a guarantee to ensure the client that the project will be completed on time and with the expected quality. By putting up an expert guarantee you provide palpable proof that you are a professional. Only those that are experts should put up experts guarantee, or else they’ll most probably end up losing their money.

• Criticism Brought Upon It

Many have criticized this type of bidding although it’s extremely effective for experts as they can assure quality to their clients. Besides, this arrangement is a great motivator for freelance professionals since it will cost them if they are unable to complete the project. Some freelance professionals can simply ignore the quality of their work even though it’ll affect their reputation, but when money is on the line, there is a great tendency for the freelance professional to work ten times harder.

• Not an Easy Arrangement

An "Expert Guarantee" clause is not for every freelance professional. This type of arrangement is only recommended for those who are experts in the project. They know they can finish the project on time because of their familiarity with the assignment. But still, Expert Guarantee is not something that should be used immediately by many freelance professionals. There are things that every experienced freelancer should consider before setting a bid with an Expert Guarantee....To read full article, Sign-up for this email training