Introduction
Welcome to Catalant! This guide provides an overview of the payment process specifically for independent experts and consultants. Understanding how payments work will ensure a smooth experience while working on the Catalant platform.
Payment Workflow
1. Payoneer Registration:
- Create Account: Register for a Payoneer account for yourself or your business entity.
- Complete Tax Form Requirements: All experts and consultants must provide information to confirm their identity and tax status for proper reporting and documentation.
- Documentation for Verification: Payoneer may request additional documentation to verify the information provided. This must be fulfilled in order for your account to be considered in compliance.
2. Project Engagement:
- Proposal Submission: Submit your proposal to clients detailing the scope of work, timeline, and payment submission schedule.
- Agreement Execution: Once the client accepts your proposal, a formal agreement is established, including the payment schedule (e.g., milestones or project completion).
3. Work Commencement:
- Start Working: Begin the project as per the agreed terms. Make sure to keep the client updated on progress and adhere to the project payment submission timeline. If a kick-off payment is required, it is to be submitted at this time.
4. Milestone and Timesheet Submission:
- Milestones (Fixed Rate): If the project includes milestones, ensure you complete and get approval for each milestone before proceeding. To learn more about the process for Fixed Fee projects, click here.
- Timesheets (Variable Rate): After authorized time worked, submit an invoice/timesheet through the Catalant platform. Be clear and accurate about the work completed and the payment amount due. To learn more about the process for Variable (Hourly Rate) projects, click here.
5. Client Approval:
- Client Review: The client will review your submitted work and the invoice. They may request revisions or additional information if needed.
- Approval Decision: Once the client approves the work and invoice, the payment process will proceed.
6. Payment Processing:
- Processing Time: Catalant processes payments according to our standard payment terms from the date of client approval.
- Payment Method: Payments are made via the method you specified in your Payoneer registration.
7. Receiving Payment:
- Notification: You will receive a notification from Payoneer once the payment has been processed to your Payoneer account.
- Funds Transfer: The funds will be transferred to your specified payment method. The time it takes for the funds to appear in your account may vary depending on the payment method and your financial institution’s processing times.
Tips for a Smooth Payment Process
- Complete Payoneer Registration: Ensure your Catalant profile is complete and up-to-date, including payment details, tax form, and other document requests.
- Currency Conversion: Keep in mind while pricing that Catalant transfers all payments in USD.
- Clear, Consistent Communication: Maintain clear and regular communication with the client to avoid misunderstandings.
- Timely Invoicing: Submit invoices promptly upon milestone or project completion to avoid delays in payment.
- Track Progress: Keep track of project milestones and deadlines to ensure timely completion and invoicing.
If you encounter any issues or have questions regarding the payment process, please contact Catalant Support at support@gocatalant.com .