A payment schedule defines the dates or milestones reached at which the customer will make payment to the service provider.


We recommend using a payment schedule as ModernDay Village is a new platform and Users are not vetted. Over time, the ratings and reviews will allow both parties to gain some further insight into the individuals who have been using this platform. Until these reputations are created (which still doesn't necessarily guarantee anything) you should limit your exposure. You should create payment schedules for the following:


1) Simple projects - Create an invoice for a deposit to be paid up front and then for the balance when the project is completed.


Time period:                List the dollar amount due:        Example:

Beginning date            Deposit amount                            $20

End of project              Balance due                                 $40



2) Long term projects and/or high-priced projects - Create an Invoice for a deposit to be paid up front and then  a payment schedule indicating future payments. These can be based on either future dates or when future milestones are met. And, then at the end of the project, create an invoice for the final payment due.


Time period:                 List the dollar amount due:     Example:

Beginning date             Deposit amount                         $150

Milestone 1 or date      Payment due                              $200

Milestone 2 or date      Payment due                              $200

...etc.

End of Project               Balance due                              $350