RENT FEES & TRANSACTION
-
Does the renter transfer the rent to the owner's account or to the Active Share Web account?
Renter transfers the rent to ASW account, upon Owner’s acceptance confirmation, ASW will charge the Renter the cost of the rental and hold that amount until the item is returned and the transaction is closed. When the transaction is closed, and the owner confirmed receiving the item back in acceptable condition, ASW will cut payment to the owner for the rental amount minus the services and transaction fee. The owner will receive a direct payment within three days to the account set up in their profile.
2. The same question for the security deposit?
Same answer as above.
3. When a renter is able to retrieve the security deposit and under which condition?
As soon as the owner confirms receiving the item back.
4. Full rental fees should be settled to the owner prior to the release of the equipment., in case there is a
delay from the owner or renter beyond the agreed duration, what is the action?
Full rent charges should be transferred to the ASW account. When the transaction is closed, and the owner confirmed receiving the item back in acceptable condition, ASW will cut payment to the owner for the rental amount minus the services and transaction fee. The owner will receive a direct payment within three days to the account set up in their profile.
On the occasion of a delay from the Owner to release the equipment at the agreed date, there should be a due penalty to be paid to the Renter (must be deposited amount made by the Owner upon confirming the reservation debited to the ASW account).
For rental extension, the Owner may receive an extension request with the renter asking to get the item for additional time, the Owner will again accept or deny the request. If the request got accepted, the same rental and payment process will be applied.
5. What is the ASW percentage on each transaction?
ASW will cut payment to the owner for the rental amount minus applicable % ASW will retain, part for the hosting services and balance% for the transaction fee. (Subject for further discussion and agreement)
6. Transfer the rent fee from Renter to ASW to Owner and security deposit from ASW back to Renter require
some written process and time frame (hopefully to be automated at ASW App. Any elaboration?)
Renter shall pay amounts due, without any offsets, in full at the time of rental, unless ASW approves of another payment arrangement in writing. Renter must notify ASW in writing of any disputed amounts, including credit card charges, within 15 days after the receipt of the invoice/contract, or Renter shall be deemed to have irrevocably waived its right to dispute such amounts. Renter shall pay a fee of $ (100) for each check returned for lack of sufficient funds to compensate ASW for its overhead for processing the insufficient payment. Deposits will only be returned after all amounts are paid in full. Renter agrees that if a credit card is presented to pay for charges or to guarantee payment, Renter authorizes ASW to charge the credit card all amounts shown on the services agreement and charges subsequently incurred by Renter, including but not limited to, loss of or damage to the equipment and extension of the Rental Period.