Payment Policy

Payment Policy

All payments will be exchanged using stripe payments. Credit cards will be charged upon acceptance of rental agreement by the owner.   

Security Deposit

• Security deposits will be released or refunded upon completion of the rental exchange assuming the rental item is returned in the same condition it was received in. 

Fees for Use

• A Processing fee is charged to renters in the amount of 2.9% of the total rental price and any other fees + $0.30
• A service fee of 10% the rental price with a minimum of $1 is charged to owner deducted from rental total cost

Cancellation Policy

Renter Cancellation

• Renter can cancel at anytime up to 24 hours before the rental begins.
• If item is booked less than 24 hours before rental period begins there will be a 4 hour (in order to enforce this we need a start time not just a start day) grace period from approval time.
• All review opportunities are void.
• In the event a renter wants to cancel within the 24 hours or past the grace period we will retain 10% of the transaction or $5 whichever is greater.

Owner Cancellation

Owner can cancel for item at anytime and will issue a complete refund.

Renter receives an item that does not function as described

Renter is Issued a full refund.

Renter does not return or keeps the item longer than booked time

The renter will be charged twice the daily rate until it is returned. If not returned within the next 14 days the renter will be charged the total cost of replacement.

Disputes

In the event of the dispute one party must report the dispute to ChainRent via the help center and ChainRent customer service will request information from both parties and mediate a resolution. In the event a chainrent user is still unhappy with the outcome of the dispute the user may take it to the proper local authority.