What are Bid Fees?
Bid fees are a component of Usage Based Pricing, which charges service providers based on the number of bids they submit per month. As part of each subscription package, service providers will receive a monthly allotment of free bids. This allotment is set so that the vast majority of service providers will not need to purchase additional bids. See chart for details
For each bid submitted in excess of this monthly allotment, RapidLance will charge a per bid fee. Service providers will be billed for the additional fees at the end of each billing month (30 days from your subscription start date). Subscription fees remain unchanged.
Every 30 days, beginning from your subscription start date, the allotment of free bids will be reset. Unused free bids will not be "rolled over" to the next month.
Example:
If you have a yearly Select subscription in Design and Multimedia, your subscription fee remains unchanged. You will not be charged additional fees if you submit 120 or fewer bids per month. However, if you have already used up your monthly allotment of free bids and submit an additional 10 bids in a given month, all on Basic projects, you will be charged an additional $5 at the end of the month, or $0.50 per additional Basic bid. At the end of 30 days, you will restart with 120 free bids.
Why is RapidLance introducing Usage Based Pricing and Bid Fees?
Usage Based Pricing and bid fees creates a fairer relationship between price and usage. Service providers who submit more bids to get additional exposure will pay higher fees than other service providers, and more equitably bear the cost of the system.
We expect that Usage Based Pricing will encourage more selective bidding and thus encourage buyers to provide more information, reduce the number of bids per project and improve the quality of bids. These improvements will in turn drive growth by attracting more buyers with higher value projects to the marketplace, especially those buyers who may currently be turned away when they see boilerplate bids.
How many bids will be free with each subscription?
Each Select subscription activated after the pilot launch will come with a monthly allotment of 120 free bids, and each Basic subscription activated after the pilot launch will come with a monthly allotment of 80 free bids. Every 30 days, this free allotment is reset.
If you hold multiple Select subscriptions, you receive the full allotment of free bids for each subscription. For example, if you hold two Select subscriptions, you will have 240 free bids per month.
If I have more than one Select subscription, how many free bids to I get?
If you hold multiple Select subscriptions, you receive the full allotment of free bids for each subscription. For example, if you hold two Select subscriptions, you will have 2 x 120 = 240 free bids per month, excluding promotions. These bids can be used on any project to which your subscription gives you access.
For example, if you have 2 subscriptions - Design & Multimedia and Sales & Marketing - you have a total of 240 bids.
- The Design & Multimedia bids can be used on any Select
Design project and any Basic project.
- The Sales & Marketing bids can be used on any Select Sales & Marketing
project and any Basic project.
When bidding on a Basic project, you will be able to specify from which subscription the bid will be deducted, i.e. from your Design & Multimedia or Sales & Marketing allotment.
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How much do additional bids cost?
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Can I use my free bids on any projects?
You can use your free bids on any project to which your subscription gives you access. For example, if you have a Basic subscription, you can use your free bids on any Basic project. If you have a Select subscription, you can use your free bids any Basic project and any Select project in your subscription's category.
When submitting bids on Basic projects, you will be able to choose from where the free bid will be deducted. For example, if you have two Select subscriptions - Writing & Translation and Sales & Marketing - and you submit a bid on a Basic Business Strategy project, you will have three choices:
- Deduct one bid from your Writing & Translation allotment of free bids
- Deduct one bid from your Sales & Marketing allotment of free bids
- Pay the $0.50 Basic per bid fee
Will my cost of using RapidLance increase?
The monthly allotment of free bids will more than cover the monthly usage of the majority of all service providers, who will not need to purchase additional bids. A small percentage of service providers submit more than the monthly allotment of free bids per month. These service providers may see an increase in their cost of using RapidLance. This additional cost is a result of their gaining additional marketing exposure by submitting bids on additional projects.
We encourage these service providers to factor the additional cost into their bid amounts, as well as review Winning Strategies newsletters and other information in the Resource Center for advice on how to improve winning efficiency.
How should I screen the project/buyer?
In order to be more selective about the projects on which you submit bids, we recommend the following:
- Review the buyer's feedback and buying statistics. Read comments made by service providers about the buyer, and look at the feedback the buyer has left for service providers. Consider the number of projects the buyer has posted and awarded on RapidLance. Links to this data are above the project description, next to the buyer's username.
- Consider the project description. The amount of detail in the project description may indicate how serious and knowledgeable the buyer is. Be sure to also consider attachments uploaded by the buyer. Some buyers may make their project description brief but upload a more detailed document to the project.
- Ask questions. Post messages to the Public Message Board requesting clarification of the project requirements. The Public Message Board is located above the bid table.
Is there a limit to the number of bids I can submit?
No - you may submit as many bids as you want. However, as soon as you owe RapidLance $200 for additional bids, you will not be able to submit additional bids until you pay the outstanding $200.
Am I paying twice - subscription fee and bid fees - in order to submit bids?
You are not paying twice to submit bids. Your subscription fee buys you a monthly allotment of free bids, plus marketing and operational services that allow you to market your business to potential buyers. These services include the following:
- Online profiles with purchase options
- Marketing placement in RapidLance's search results, service provider directory and category pages
- Access to project description and ability to interview buyers before submitting bids
- Maintenance of feedback history
The bid fees will affect your monthly cost only if you use up your
monthly allotment of free bids and want to gain additional marketing
exposure. The vast majority of service providers will find that the
monthly allotment covers their typical usage of RapidLance.
What happens if I don't use all my free bids? Will
they roll over to the next month?
Unused free bids do not roll over
from month to month. They expire at the end of each 30-day billing cycle.
Is the monthly allotment of bids higher for
quarterly and annual subscriptions?
No. Quarterly and Annual
payment plans have the same number of monthly allotment of bids as the
Monthly payment plan. Purchasing a quarterly or annual subscription gives
you up to 67% discount compared to purchasing three or twelve consecutive
months at the Monthly subscription price.
How
will I keep track of my bids?
Bid management tools will be added to
your Subscription Status page, which will be renamed Subscription Status
and Bid Management. RapidLance will track and display the number of bids that
you have placed in the last 90 days, how many have been deducted from the
free monthly allotment and how many have been purchased at the per bid
fee. The Subscription Status and Bid Management page will also display a
running total of the amount due for the additional bids. Finally, when you
submit a bid, a message will be displayed indicating whether you are
submitting a free bid or purchasing an additional bid.
How will I be billed for additional bids?
RapidLance
will keep a running total of the cost of additional bids in the
Subscription Status and Bid Management page. RapidLance will invoice you for
these fees at the end of each billing month, i.e. every 30 days after your
subscription start date. You can make payment by credit card or RapidLance
Account. You must pay the invoice before submitting additional bids.
You may also pay this amount before the end of each 30-day billing
cycle from the Subscription Status and Bid Management page by clicking Pay
Now and selecting a credit card or your RapidLance Account.
Will I be charged for multiple bids on the same
project?
You will not be charged for multiple bids on the same
project, under the following circumstances:
- The buyer opens a Private Message Board with you to clarify your bid and the project
- The buyer adds information to the project description
- The buyer posts a message to the Project Clarification Board
We recommend that you screen the buyer and project before submitting a bid, in order to submit an accurate bid amount.
Will I be charged for a bid submitted on a project that is not
awarded?
Yes. Bids submitted on a project that is not awarded or is
canceled by the buyer will be deducted from your monthly allotment of free
bids or charged the per bid fee. For this reason, we encourage service
providers to review the buyer's profile, buying history and project
description before submitting a bid. If you need more information about
the project before submitting a bid, post messages on the Public Message
Board. Click
here for advice on how to screen the buyer and project.
Will I be charged for a bid submitted on a project
that RapidLance delists?
No. If RapidLance delists a project on which you
have submitted a bid, we will either refund the bid fee or add back a free
bid to yo ur monthly allotment. However, you will be charged for bids that
are delisted due to policy violations. Please review our bid policies before you place a bid.
Will I be charged for a bid submitted on a project to
which I was invited?
Yes. Bids submitted on a project to which you
are invited will be deducted from your monthly allotment of free bids or
charged the per bid fee.
Will I be charged for
projects posted from the Submit Repeat Project link in Selling
Activity?
No. When you submit a repeat project from the Submit
Repeat Project link in Selling Activity, you will not be charged and no
bids will be deducted from your free allotments.
Will I be charged for Buy Now projects?
No. If
you receive a Buy Now order, you will not be charged and no bids will be
deducted from your free allotments.