I am a co-founder of a start-up Transcription agency. Both my partner an I have extensive transcription experience. Our starting price is R12 per audio minute; and prices increase with tighter deadlines and with audio which is difficult to hear. A 50% deposit has to be paid before the project is undertaken. The hourly rate is for an hour of audio and not an hour of work. You can decide on your own formatting (lay-out, time-stamps etc.). We do verbatim and "clean" transcriptions.