About the Expert Guarantee Processing Fee

Site Wide Message: (current site time 1/8/2009 7:48:07 AM EDT)

Cable breaks cut Internet in Mideast, South Asia. Please click here for more information.

**********************************************************
Recently there have been a couple bid requests posted on RAC that include a link to an offsite webpage. The link goes to a page that looks like RAC and is used to phish user's RAC login information. If you see anything like this please report it. Also remember to make sure you are on the RAC site if you are asked for your username and passsword.

The Expert Guarantee Processing Fee

When the coder is awarded the project from the buyer, they deposit the Expert Guarantee. When they do this, Rent A Coder incurs expenses in processing it. To cover those expenses, the coder is charged a non-refundable processing fee. This fee can be reduced or eliminated by the coder, if they choose a less expensive method of payment.

Deposit Type

Fee

No deposit - transfer of existing funds already in coder account

Snail mail check

Bank to bank wire Transfer

0%*

Pay Pal

3.5%

Credit Card

$ amount	Fee
Less than $100.00	3 % + $.50
$100.00 or more	3.5%

As an option, the coder can also ask the buyer to cover the cost of this fee for them. They can do this in a number of ways such as: increasing the price of the bid, asking the buyer to post a 2nd bid request to cover it (contingent on completion of the project), or by getting the buyer to promise to pay the fee to them as a bonus (upon completion of the project). Note to coders: If you choose the bonus route, just remember that due to credit card/PayPal rules, Rent A Coder CANNOT force a buyer to pay a bonus involuntarily...even when promised on-site. So don't choose this option, unless you trust the buyer, or are willing to take a small risk.

Notes:

If you use multiple methods to pay for a single deposit (for example: transfer some from your coder account and deposit the rest from a credit card), then the fee is computed by combining the different fees for each portion.

* On bank to bank wires, a wire transfer fee is charged: the same amount as charged to buyers on their bank to bank wires.