Page: Confident Lending

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confident lending ..

Though lending and borrowing is not new, we do understand that it doesn't have a good reputation.

In recognising this, we have integrated a number of mechanisms into Ecomodo to help you feel more confident about lending and borrowing.

Feel comfortable by choosing who to share with

Using Ecomodo you can choose to lend and borrow with everyone or just with people in your lending circles or just your friends.

As a lender you can independently control who can request each of your items to lend. And as a borrower you can choose to request only items from your circles.

Lending circles can be created for your street, workplace, school, special interest or any type of community group that you are happy to share with.

Leave feedback for others and build a 'good' reputation

At the end of every transaction lenders and borrowers leave feedback for each other and the borrower leaves feedback for the item.

As our local service is closely tied to real world communities our feedback and reputation system is a strong disincentive for deliberate bad behaviour. People you know may see the feedback left about you. Borrowers and lenders can view profiles about each helping everyone see who they are dealing with before sending or accepting requests.

Take security deposits

Lenders can request a security deposit for their items that is taken along with any hire fees when a booking is made. Ecomodo holds all monies until the item is satisfactorily returned and feedback has been given.

Help sort the wheat from the chaff

With your feedback our system enables the automatic suspension of any unsafe or poorly described items. We will also suspend any untrustworthy members.

and if things do go wrong ..

On an occasion where something does go wrong, Ecomodo can help.

Quickly sort out disputes

We have a simple but thorough dispute resolution process with clear cut rules to avoid misunderstandings and ease the inevitably awkward discussions with potential disputes. These rules define where the money held in escrow is sent in the event of a dispute. For more information read our Terms of Use or browse our FAQs.

Get peace of mind by opting in for insurance cover

Ecomodo has teamed up with RSA to provide the Lender with optional insurance cover in case of loss or damage.

For more information read about our Insurance cover.


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