How does the 50-50 payment method work?
Okay, not to be redundant but,
Lawliet
Last Update vor 2 Monaten
As the term "50-50" indicates, the first payment is made right on the start once all details have been discussed, as what we call an Upfront payment. As soon as the booking has been scheduled into the pre-existing Queue, it is charged.
Then, and only then, does the 2 weeks for the client to provide the requirements for the commission to commence start to run on the clock (after the TOS is signed by both Creative and their Client.)
The billing is the literal division of the total amount of your commission by two. Duh, so simple isn't it? Still, here's an illustrative example for my visual folks:
75$ divided by 2 = 37.50$
The last half is only paid once work is done. It'll be informed to the client when it is finished, and their PNGs will be sent along with a PDF file and permission to bill the final payment will be requested in order to conclude the transactional exchange.
Basically, you pay the total in a parcel of two instead of all in one.
Pretty neat for budgeting, isn't it? Most artists I've seen in the art community follow that format, sometimes straying a bit to accomodate personal needs.