The Elance website allows businesses to post jobs, search for freelance professionals, and solicit proposals. They can evaluate the contractors applying for the job and, once a contractor is selected, communications and files are exchanged through the Elance system. Payment for jobs, which can either be hourly-rate or project-based jobs, is made by the client through Elance's system, which deducts a percentage of the fee, 8.75%, as a "commission." Elance offers a Work View tool provides an official record of work completed. For project-based jobs statement of work or milestones are used to indicate progress toward completion, and funds are held in escrow by Elance to ensure payment upon completion of the milestone.
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