Common use of Fixed-Price Escrow Account Clause in Contracts

Fixed-Price Escrow Account. When you enter into a Fixed-Price Contract, Upwork Escrow will establish and maintain a “Fixed-Price Escrow Account” to receive, hold, and release payments pursuant to the Fixed-Price Escrow Instructions for the Engagement that is the subject of that Service Contract. You hereby authorize and instruct Upwork Escrow to act as escrow agent in connection with the Escrow Accounts and the payment, holding, and receipt of funds for each Engagement and other specified purposes (the “Escrow”) in accordance with the Terms of Service and the applicable Escrow Instructions.

Fixed-Price Escrow Account. When you enter into a Fixed-Price Contract, Upwork Escrow will establish and maintain a “Fixed-Price Escrow Account” to receive, hold, and release payments pursuant to the Fixed-Fixed- Price Escrow Instructions for the Engagement Contract that is the subject of that Service Contract. You hereby authorize and instruct Upwork Escrow to act as escrow agent in connection with the Escrow Accounts and the payment, holding, and receipt of funds for each Engagement Contract and other specified purposes (the “Escrow”) in accordance with the Terms of Service and the applicable Escrow Instructions.