Milestone projects offer a structured approach to managing complex projects with multiple phases or deliverables. Understanding how milestone projects work on Contra can help clients effectively plan, execute, and monitor their projects. Here's a comprehensive guide to mastering milestone projects:

Milestone projects are ideal for projects with distinct phases, checkpoints, or deliverables. Clients and contractors collaborate to define specific milestones and associated payments, ensuring clarity and accountability throughout the project.

Clients and contractors can break down the project into individual milestones, each representing a significant stage or achievement in the project's progress.

Clients fund each milestone individually, providing payment upfront to initiate work on that particular phase. Payments are securely held by Contra’s third party payment processor until the contractor completes and submits the milestone deliverables for client approval.

Once the contractor completes a milestone, they submit the deliverables for client review and approval. Clients have the opportunity to assess the quality and completeness of the deliverables before approving the milestone for payment release.

If the client approves the milestone deliverables within the specified timeframe (120 hours), Contra automatically releases the funds to the contractor.

Contra facilitates communication between clients and contractors throughout the milestone project, providing notifications and reminders for upcoming milestones and payments.

In conclusion, milestone projects offer a structured and transparent approach to managing complex projects on Contra. With clear milestones, secure payments, and effective communication, clients can navigate their projects with confidence and achieve successful outcomes.