Once you accept a bid you need to pay the amount of the bid upon acceptance. Budgets and bids are quoted in US Dollars for reference, but all transactions occur in Bitcoin (or other crypto currencies where indicated). Once you accept a bid for the US Dollar amount, you’ll need to make a payment, in Bitcoin (or other crypto currencies where indicated), for the equivalent US Dollar amount at the exchange rate at that time. After the transaction, all amounts pertaining to that project will be quoted in the bitcoin (or other crypto currencies where indicated) amount paid.
Once you’ve accepted and paid, this notifies the bidder and you can then move into the Workspace to work with the Service Provider.
This winning bid amount is then held by Jobvir for the security of both Service Provider and Hirer. Only once you have marked your project as complete, will funds be released to the Service Provider.
Should a Hirer or a Service Provider at any time decide to cancel an accepted bid project the project will move into a disputed phase whereby Jobvir will investigate and make a decision on which party wins the dispute (See ‘Disputes Resolution’).