Milestone Holdback Master Agreement

This Milestone Holdback Agreement ("Agreement") is made and entered into, by and between:

www.krowse.com, a freelance marketplace, with its principal place of business at Mumbai ("Platform")

AND

Project Owner (“Project Owner”)

AND

Freelancer (“Freelancer”)

entering into this Agreement in their respective capacity as either a Project Owner or a Freelancer (as defined below) on a project-by-project basis.

WHEREAS

Project Owner desires to engage Freelancer to perform certain services (the "Services") for a project (the "Project");

Freelancer desires to perform the Services for Project Owner;

Project Owner and Freelancer wish to establish a secure method for handling milestone payments; and

Platform agrees to act as a neutral third-party holder of funds in accordance with this Agreement.

NOW, THEREFORE

In consideration of the foregoing premises and the mutual covenants contained herein, the parties agree as follows:

1. Application of Agreement

This Agreement governs the use of the Platform's milestone holdback feature for all projects undertaken through the Platform. Both the Project Owner and Freelancer are bound by this Agreement when they choose to utilize the milestone holdback feature for a specific project.

2. Payment Options and Milestone Schedule (if applicable)

For each project on the Platform, Project Owner and Freelancer shall agree upon one of the following payment methods:

• Full Payment on Completion: Project Owner shall pay the entire project cost to Freelancer upon successful completion and acceptance of the Project.
• Milestone Payments: Project Owner shall pay the project cost in installments based on agreed-upon milestones between the Project Owner annd Freelancer.

3. Milestone Deposits (if applicable)

If the parties opt for Milestone Payments for a specific project, Project Owner may choose to deposit the Milestone Amount with the Platform or manage it outside the Platform.

• Deposit with Platform: If Project Owner chooses to deposit Milestone Amounts with the Platform for a specific project, Project Owner shall initiate a milestone creation process for each milestone or for the entire project amount (depending on the agreed-upon payment structure with the Freelancer). Prior to this, Project Owner has to transfer apropriate funds to his/her account maintained with the platform, to fund the milestone amount. The deposited milestone amount will be held in a bank account controlled by the platform. Please note that the Platform does not claim any legal ownership of these funds and acts solely as a third-party holder.
• External Management: If Project Owner chooses to manage Milestone Amounts outside the Platform for a specific project, the Platform will not be responsible for holding or disbursing those funds.