x Introducing Flexible Timesheet, a Better Way for Client and Service to Instantly Work Together | Uniblok

Introducing Flexible Timesheet, a Better Way for Client and Service to Instantly Work Together

Posted by: kshitij lunthi | 01 Sep 2022

Uniblok, a blockchain-based decentralized platform that brings together talent and clients to provide them with better privacy and service. The platform we provide allows them to easily interact with one another, negotiate terms and conditions through smart contracts, and determine their payment terms and timelines.

As we have mentioned previously in our article named cryptocurrency payment gateway at uniblok, At Uniblok, we accept cryptocurrency payments, which are safer and faster than conventional payments due to the fact that payments far away take time and are more expensive.

We also accept fiat payment on our platform for those without cryptocurrencies or who prefer to pay with fiat money.

The main question to be addressed when the client is paying the talent is on what basis should the talent be compensated? How long does it take for talent to be paid? How to handle a situation where a talent doesn’t meet the client’s expectations. By using Uniblok, we make it easier for our clients and talents to meet all of these needs.

Currently, Uniblok has two forms of payment between talent and client;

  1. Fix Cost model
  2. Flexible Timesheet model

Fix Cost :

Fix Cost
Fix Cost

In this model, the client will pay the talent once the task assigned to the talent is completed within a specified period of time mutually agreed upon by both parties (the client and the talent) after the task has been completed by the talent.

For Example :

Consider the following scenario: Client and talent agree on a budget of 100 dollars for one month and payment will be based on the fixed cost method.

Talent is assigned tasks by clients and the client and talent mutually agree upon a time frame of one month. The timeline agreed between the client and talent is for one month, so it does not matter if the talent completes the given task in 15 days or 20 days, as the talent will only be compensated after this period has expired. Invoices will be issued by the talent to the client showing the completion of the task, the client will pay 100 dollars, and a platform usage fee of 10% will be charged to the client.

Note: It is recommended that clients use this method if they need static work completed for them.

Flexible Timesheet :

flexible timesheet model
flexible timesheet model

According to the Flexible Timesheet concept, talent should be compensated based on the number of hours worked. With this concept, you can make payments on a weekly, bi-weekly, or monthly basis.

In the case of the weekly option, the talent will be required to raise a weekly invoice for payment of working hours. An invoice raised by the talent will include the number of hours worked each day that the client will be billed for.

Every transaction between a client and a talent on Uniblok’s platform is subject to a platform usage fee. For e.g In the case of a five-week project and weekly payments, Uniblok will charge a usage fee for each payment.

Note: It is recommended to use this method if a client intends to hire talent for a dynamic and long-term project.

Conclusion

Uniblok has two forms of payment between talent and client; Fix Cost model and Flexible Timesheet model. In Fix Cost Method The client will pay the talent once the task is completed within the period agreed upon by both parties. Uniblok’s Flexible Timesheet concept allows freelancers to be compensated based on the number of hours worked. With this concept, you can make payments on a weekly, bi-weekly, or monthly basis. A platform usage fee of 10% will be charged to the client.

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Introducing Flexible Timesheet, a Better Way for Client and Service to Instantly Work Together
kshitij lunthi

Digital marketing @uniblok

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