The Smartest Way for Companies to Manage Freelancer Payments
LytePay simplifies freelance payment management - by financing cash advances
This eliminates time-consuming negotiations on payment terms.
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Payable upon completion of work, when/after the payment is actually earned; and ahead of standard terms of payment.
More DetailsThe total amount payable — is a discounted rate on the actual amount earned by the payee. Where the original payment term is 60 days after the date of invoice, the payee can choose to receive payment instantly (on the date of the invoice itself) at a 5% discount. (i.e. On a $1,000 invoice, the payee can choose to receive $1,000 after 60 days, or $950 immediately.)
Payable before completion of work, when the payment has not actually been earned; but ahead of job completion.
More DetailsThe total amount payable in advance — is determined by several factors including the payee’s historical earnings, as well as the duration and consistency of the payee’s past work/partnership with the company. In this case, the amount varies and is subject to approval.