Site Wide Message: (current site time 7/6/2008 4:38:41 PM EDT)
In observance of the United States 4th of July holiday the Rent A Coder office will be closed on Friday, July 4th. However, we will be approving auctions and completing phone verification once during the day. We will resume our normal business hours on Monday, July 7th and wish everyone who celebrates it a happy 4th of July.
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The Expert Guarantee Processing Fee
When the coder is awarded the project from the buyer, they deposit the Expert Guarantee.
When they do this, Rent A Coder incurs expenses in processing it. To cover those expenses, the coder is charged a non-refundable processing fee. This fee can be reduced or eliminated by the
coder, if they choose a less expensive method of payment.
| Deposit Type |
Fee |
| No deposit - transfer of existing funds already in coder account |
0% |
| Snail mail check |
0% |
| Bank to bank wire Transfer |
0%*
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| Pay Pal |
3.5% |
| Credit Card |
| $ amount |
Fee |
| Less than $100.00 |
3% + $.50 |
| $100.00 or more |
3.5% |
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As an option, the coder can also ask the buyer to cover the cost of this fee for them. They can do this in a number of ways such as: increasing the price of the bid, asking the buyer to post a 2nd bid request to cover it (contingent on completion of the project), or by getting the buyer to promise to pay the fee to them as a bonus (upon completion of the project). Note to coders: If you choose the bonus route, just remember that due to credit card/PayPal rules, Rent A Coder CANNOT force a buyer to pay a bonus involuntarily...even when promised on-site. So don't choose this option, unless you trust the buyer, or are willing to take a small risk.
Notes:
- If you use multiple methods to pay for a single deposit (for example: transfer some from your coder account and deposit the rest from a credit card), then the fee is computed by combining the different fees for each portion.
- * On bank to bank wires, a wire transfer fee is charged: the same amount as charged to buyers on their bank to bank wires.
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