our guarantee
One Thread Road understands the risks involved when lending beloved items out of your own wardrobe. We want Lenders to feel at ease that they’ll be entitled to compensation should their items get damaged; and customers to feel safe that when the rent, they will not be held liable for the damages should they accidentally damage an item.
policy
1. Introduction
One Thread Road (“the Company”) is committed to providing a reliable peer-to-peer lending and renting platform for users in Australia. This Guarantee Policy outlines our commitment to covering damages to items listed on onethreadroad.com.au, excluding kids and baby wear, in accordance with Australian Consumer Law (ACL).
2. Damage coverage
- For the first rental period of each item, One Thread Road will cover 100% of the cost, equal to the current item value, for any unrepairable damage to the item.
- Subsequent rentals of the same item will result in depreciation of the Current Item Value by 25% per rental. One Thread Road will cover the cost of any damage to the item equal to the depreciated value until the value reaches $0 after four rentals.
- After four rentals of the same item, the Lender is responsible for covering the costs of any damage to the item, including repairs or special cleaning.
- If an item sustains repairable damage within the first four rental periods of the same item, One Thread Road will cover the costs of repair.
3. responsibilities of users
- Borrowers are responsible for the proper care and use of rented items and must adhere to the terms outlined in the rental agreement.
- Lenders must accurately describe the condition of items listed on the platform and ensure they are fit for rental purposes.
4. Claims and Disputes
- Users must report any damages to items within 72 hours of the last day of the rental period.
- Report damages using our CLAIMS FORM.
- One Thread Road will assess reported damages and determine coverage in accordance with this policy and Australian consumer law.
5. Limitations of Liability
- The liability of One Thread Road is limited to the terms outlined in this policy and is subject to Australian consumer law.
- One Thread Road is not liable for damages resulting from misuse, negligence, or alterations made to the item by the borrower during the rental period.
6. Modification of Policy
- One Thread Road reserves the right to modify this guarantee policy at any time. Any changes will be communicated to users via our platform or other appropriate channels.
By using our platform for peer-to-peer lending and renting, users agree to abide by the terms outlined in this guarantee policy.
For any inquiries or clarification regarding our guarantee policy, please contact hello@onethreadroad.com.au