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FAQs

SAFETY AND SECURITY

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.

Hand over in person 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 contact@fainin.com.

By mail delivery 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 contact@fainin.com.

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.

Together, these actions define Fainin's Design-For-Trust.

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:

  • Include as many details about the item as possible including the model number, purchase date, and a written description of the condition.
  • Add details photos and/or videos of your item to show it’s exact condition.
  • Keep your listing updated as your item ages.

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:

  • Mobility vehicles (e.g. Cars, motorbikes, motorized scooters, buses, trucks, vans, etc.)
  • Boats
  • Drones above 5kgs
  • Property (e.g Apartments, houses, etc.)

We will be soon introducing new insurance policies to cover the above mentioned items.

RESERVATIONS

A 15% service fee is charged to borrowers and lenders when a booking is confirmed. These costs include the payments for all trust-causing features on Fainin's platform.

The fee is calculated based on the booking subtotal and it's automatically deducted from the lender's payout.

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 the borrower and the lender agreed to meet in person for the item's delivery and the borrower doesn't show up, Fainin's will consider the rental ongoing and it will charge the borrower's full rental fee.

The borrower will automatically be notified before the rental period ends. If the borrower doesn't return the item at the end of the rental agreement, the lender should contact him immediately since there could be a reasonable explanation for the delay. If the borrower can't be reached, the lender should involve us via contact@fainin.com. We are happy to help you starting the procedure of an insurance claim or a preliminary investigation.

PAYMENTS

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 in Fainin's admin account and will be released to the lender when the borrower has confirmed that they have received the item.

GENERAL QUESTIONS

The word Fainin comes from the adjective Fain, that describes someone ‘pleased or willing’. Additionally, Fainin is a abbreviation for "Find Anything In Your Neigborhood".

With Fainin, we want to establish collective consumption and enable sharing to be a daily activity. If we'll start sharing more, we need less in total, because sharing results in a more efficient consumption of resources. Consequently, each member in Fainin-Family supports sustainable consumption and performs a small contribution towards a big change within our society.

To follow Fainin's vision of a social sharing community, we want to establish assurance through Fainin's Design-For-Trust. Each user should trust himself to do good, but also other users to do similarly. To provide a secure marketplace and a trustworthy environment, we're using innovative technologies that build Fainin's unique Design-For-Trust. That's why we are the first, really secure sharing community. That's how we offer the possibility to share your stuff, create new experiences, build relationships and support sustainable consumption.