From fixed-rate to milestone contracts, Near's staffing service streamlines contractor payments with flexible options and multiple withdrawal methods.
Paying your contractors just got easier with Near's staffing service! Our team will take care of the hassle, from formalizing the offer to onboarding your contractors in our payroll platform.
Contract Options
When setting up a contract, you have three contract options to choose from:
Fixed Rate
Fixed Rate contracts are agreements where you and the candidate agree on a base rate for work that recurs every month. Your contractors will receive their monthly payments based on the payment cycle and pay date agreed upon (usually the contractor's start date). With the option to adjust for bonuses, expenses, overtime, and other adjustments, as authorized by the client.
For Fixed Rate contracts, customers are billed monthly in advance to ensure the funds are received in time for the contractor's payday, which is based on their start date (unless otherwise specified). In case the pay date falls on a weekend, the payment is processed on a Friday ahead of the weekend.
Pay-As-You-Go
Pay-As-You-Go contracts are where your contractors get paid at a variable rate based on factors like hours worked or tasks completed. They will be required to submit their weekly hours in Deel. Once you approve and pay the hours at the end of the payroll cycle, Near will send the payment to your contractor. With the option to adjust for bonuses, expenses, overtime, and other adjustments per payment.
For Pay-As-You-Go contracts, customers are billed at the end of the contractor's payroll cycle, with the option to dispute the hours for adjustments. Once the payment is received, the contractor will be paid in Deel.
Milestone
Milestone contracts are where your contractors receive a predetermined amount upon reaching specific milestones along a project timeline. You and the candidate will break down the project into milestones and assign payment amounts. When a milestone is accomplished, the client will issue payment and Near will send it to the contractor.
For Milestone contracts, customers are billed in advance per milestone. Once the contractor accomplishes a milestone, their payment is processed in Deel, and they can move on to the next milestone project.Withdrawal Options for Contractors
Your contractors have multiple withdrawal options, including bank transfer, Binance, Coinbase, PayPal, Payoneer, Revolut, and Wise. The estimated transfer time will depend on the withdrawal method. Transfer times for other methods range from one to five business days for local e-wallets and bank transfers, to five to seven business days for bank transfers via SWIFT.
Please note that payment providers, especially banks, do not process payments on weekends and public holidays, and transfer times are only estimates and may be impacted by additional reviews or requests for information at the discretion of the payment providers.
With Near, paying your contractors has never been easier!