Mindfire has established various pricing, payment schedule and payment modes to suit different client and project needs.
Time and Materials
The standard time-and-materials method of work, based on Actuals. This is usually monitored through weekly timesheets and progress reports.
Time and Materials with Not-to-Exceed clause
A standard time-and-materials method, with an additional clause that price will not exceed a certain amount.
Project bids, on fixed-price fixed-time basis. Bids may be fixed on hard set of specifications, or accommodate certain level of flexibility.
Milestone-based payment schedule
During remote development, milestones-based payment schedules reinforce progress monitoring, and the evolution of firm, achievable milestones. Milestone-based payment helps you justify payment, and visible progress reduces risks.