That's decided by us, JadePuma. Our preference is to do fixed price as it provides less risk for the client (and means we don't have to do the admin of tracking time). But if the project isn't well-defined, then we'll go with hourly billing.
At JadePuma, we have two ways that we bill clients depending on the type of project.
For projects with a well-defined scope, we will provide an all-inclusive fixed price for the project.
The project is paid is two installments. 50% at the start of the project and the remaining 50% at the end of the project.
For tasks that cannot be clearly defined, we bill by the hour.
We invoice at the beginning of the month for all hours worked in the previous month.
Our hourly rate is $125.