We like to keep things simple here, so the normal design process looks like this:
We estimate how long it will take us to finish a project
We track our time down to the second and let you know if we need more to finish up
We get your final approval, wrap up, and send a bill at the end of the month
Along with the hourly rates, we also require a retainer for new clients, and charge a rush fee for 24-hour turn-around.