Delivery method: Meetup
You should arrange the meetup details for the delivery of an item using the messaging feature in Fainin. If you are having difficulty arranging this and need to involve Fainin, please contact us directly at firstname.lastname@example.org.
Delivery method: Shipping
A shipping label will be provided after selecting the required details in the app. An estimated shipping time should be provided to you by the seller when confirming your booking, often it takes 3 working days to received an item. Note that the shipping time will depend on where the item is being shipped from and to. If you haven’t received the item by the expected delivery date please get in contact with the lender to check the status, or check the shipping tracking number provided to you in the app.
If you are still having problems locating an item, please contact fainin directly at email@example.com.
Absolutely! We encourage you to list your items on Fainin as there are many benefits which include bookings being covered by the insurance provided by Fainin as well as the exposure of your business to a whole new set of customers.
We are currently developing business accounts which will include additional admin functionalities to help you manage your bookings. If you would like more information please contact us at firstname.lastname@example.org.
There are a few items which are prohibited from being lent/borrowed on Fainin. These items include:
Please note that there are some items which we cannot insure, so although they can be borrowed/lent, the insurance provided by Fainin does not cover these bookings. Please see more information about the insurance provided by Fainin to understand which items are not insured.
You can borrow or lend almost anything on Fainin! Some of our most popular categories include:
If you are expecting an item to be returned but the borrower has not indicated that they have shipped the item or are not responding to messages please involve Fainin directly by emailing email@example.com. Make sure to email us using the email you used during sign-up or if signed up using Facebook or Gmail then the email used for these accounts. Include your booking ID and as tell us what happened, we’ll be there to help!
Extending a booking
If you’d like to borrow an item for a longer period you can create a new booking for the extended date range.
Shortening a booking
If you need to shorten your booking you should first discuss this with the lender. Once you and the lender have agreed on the terms please contact Fainin directly on firstname.lastname@example.org so we can process any required refund. Keep in mind that service fees will not be reimbursed.
Cancelling a booking
Both a lender and borrower can decide to cancel a booking. If either party decide to cancel a booking they should first discuss it together. Once agreed, the party who has initiated the cancellation should email email@example.com to process the refund to the borrower. Keep in mind that service fees will not be reimbursed.
We will be integrating some new features soon to make it easier for you to manage the extension, shortenings or cancellations of bookings.
Your item should be returned to you the same way it was delivered to the borrower.
Delivery method: Meetup
You should arrange the meetup details for the return of an item using the messaging feature in Fainin. If you are having difficulty arranging this and need to involve Fainin, please contact us directly at firstname.lastname@example.org.
Delivery method: Shipping
A return shipping label is included when selecting the shipping method. Simply attach the return label to the packaged item and deliver the package to your nearest package collection outlet.
This depends on the delivery method selected by the lender. The lender can choose to meetup and exchange the item in person, or use shipping.
In some instances a lender will be open to changing the delivery method set for their item so if you would like to select the alternative method, please discuss this with the lender before confirming your booking.
Trust, safety and security is an important aspect of the Fainin community and that’s why we’ve designed Fainin with all three points in mind. Here are just some of the measures we take to ensure your safety and security:
Profiles: All Fainin users have a profile, it’s their face in the community. To borrow or lend an item users are asked to provide a range of information to ensure they are who they say they are, including verified contact details and government ID.
Secure messaging: The messaging feature enables users to discuss items and booking details before confirming a booking and stay in touch once a booking is confirmed to coordinate delivery details or if a user had questions about the item. All communication should be conducted within the messaging feature to ensure the booking is covered by the insurance provider.
Secure payments: Our platform securely handles all payments between borrowers and lenders. Users should always make payments via the platform to ensure the booking is covered by the insurance provider.
Reviews: Borrowers and lenders can review each other after a booking period has been ended and the item has been returned to the lender. Reviews are part of a users public profile and can help potential borrowers decide if a product is right for their needs.
Scam protection: By always communicating and paying via the Fainin platform you are protected by our safety and security measures and most importantly the insurance coverage.
In the rare case of an incident, insurance provides coverage of up to €15.000 for both lenders and borrowers. The insurance also includes coverage in the event of a third-party claim of bodily injury or damage related to an incident involving an item borrowed on Fainin.
To ensure your item is covered by the insurance, you should ensure your listing is as accurate as possible. For example your listing should:
The insurance provided does not cover normal wear and tear on your item. For example, a bicycle lent for a one month period which is returned with a new scratch or worn out brakes would be considered normal wear and tear.
Please note that there are some items which we cannot insure, so although they can be borrowed/lent on Fainin, the insurance does not cover these bookings. These items include:
We will be soon introducing new insurance policies to cover the above mentioned items.
To check your payout history, open the app and select the ‘More’ option. Open the payment history tab. Here you can see the payout history for any of your incoming and outgoing payments.
A borrower is charged via their selected payment method once a lender accepts the booking request.
The payment is then held by Fainin and only released to the lender once the borrower has confirmed that they have received the item.
A 15% service fee is charged to both borrowers and lenders when a booking is confirmed to help operate the Fainin platform.
The fee is calculated based on the booking subtotal and is automatically deducted from lenders payout amount.
Fainin will release your payout once a borrower has confirmed that they have received the item.
The time it takes for the funds to arrive in your account depends on your payout method. The average processing time is between 1 – 7 business days. Please be aware that many banking systems do not process transactions on weekends or holidays.
If both the borrower and the lender agreed to meet in person for the item´s delivery and the borrower doesn`t show, Fainin will still consider the rental took place and it will charge the borrower the whole amount of the rental.
The borrower always gets notified in a timely manner before the rental period ends. If the borrower doesn’t return the item at the end of the rental agreement, the lender must get in contact with him immediately since there could be a reasonable explanation for the delay. If the borrower can’t be reached, the lender must contact us at email@example.com. We will then help you start the procedure to file for an insurance claim.
The word Fainin comes from the adjective Fain, that describes someone ‘pleased or willing’.
At Fainin our goal is to unlock the benefits of access over ownership. That means, matching consumers who are willing to borrow items, as opposed to own, with owners who are willing to share as part of a collaborative consumption or sharing economy.
To achieve this we are leveraging new technologies, such as the Blockchain and smart contracts, to build a safe and secure marketplace, ultimately enabling the community to share their belongings, create new experiences, build relationships and support a sustainable environment.
A smart contract is a piece of software that stores rules for negotiating the terms of a contract, automatically verifies the contract and then executes the agreed terms. Smart contracts are stored on the blockchain which all parties have a copy of. Blockchain and smart contract technologies remove the reliance on central systems between transacting parties.
Our ultimate goal is to nurture a safe and secure sharing economy platform, which provides visibility as well as privacy for our community members. Ultimately, as we roll out our blockchain solutions, users’ data and information won’t be hosted by a single entity but instead hosted on a decentralized system, an Ethereum based utility-blockchain. This type of hosting guarantees users more transparency and security for all their transactions and activity within Fainin.
By using smart contracts, we will be able to speed up the transaction process and provide security to the parties involved in the contract/transaction, since many security copies of a contract will be hosted in the Blockchain. Then, if for example, any party try to change a contract/transaction on the Blockchain, all other parties can detect and prevent it.