Payments & Billing
Understanding how money flows on Famous Contractors
Video Tutorial Coming Soon
Payments & Escrow Explained
Payment Schedule Options
When posting a job, property owners choose how payments will be structured:
Full Payment
100% paid upon completion. Best for smaller projects or when you fully trust the contractor.
50/50 Split
Half upfront, half on completion. Balances risk between both parties.
Thirds
Three payments: start, midpoint, completion. Best for larger projects.
How Escrow Protection Works
Owner funds escrow
Funds held securely
Released on approval
Contractor Protection
Funds are held in escrow before work begins. You're guaranteed payment for approved work - no more chasing clients for money.
Owner Protection
Your money stays in escrow until you approve the work. If there's a dispute, our Platform Judge reviews the evidence and makes a fair decision.
Milestone Payments
Milestones are checkpoints where work is reviewed and payments are released.
Pending
Work hasn't started yet. Funds are in escrow waiting.
In Progress
Contractor is actively working on this milestone.
Completed (Awaiting Review)
Work submitted. Owner has 48 hours to approve or dispute.
Approved
Owner approved. Payment released to contractor.
Platform Fees
For Property Owners
No fees to post jobs or use the platform. You only pay for the work itself.
For Contractors
10% platform fee on completed milestones. This covers payment processing, escrow protection, and platform maintenance.
Example Calculation
Job amount: $1,000
Platform fee (10%): $100
Contractor receives: $900
Payout Timeline
Milestone Approved
Owner approves or auto-release triggers
Stripe Transfer
Funds transfer to your Stripe account
Bank Deposit
Funds arrive in your bank account
Note: Payout speed depends on your bank. Most contractors receive funds within 1-2 business days after approval.