Terms and Conditions
One is eligible to use and transact on the platform if:
- One is a citizen of the Republic of India;
- One is eligible to enter into a legally binding contract; and
- One is not barred by any applicable law for the time being in force.
In case one is not an individual but wishes to use the services provided by this platform by registering oneself as a legal entity, then one should comply with the following conditions:
- One is fully authorized to represent your legal entity to receive the Services;
- The legal entity one is representing is a duly organized and validly existing under the applicable laws; and
- The legal entity has obtained all such licenses and permissions which are in full force and effect.
- LORI is not responsible for arranging transfer, delivery or return of the rented item, however, delivering/shipping facility may be provided through third party service providers at an additional charge(to be paid directly to the
shipping/delivering party) upon request, depending on location and availability.
- In case of shipping/delivery services being requested from LORI, such shipping shall be at the sole risk of the requester/user, and LORI shall not be responsible or accountable for any loss, damage or unfulfillment of the delivery
attributable to the third-party service provider.
3. FEES & PAYMENT
All financial transactions relating to the rental of items through Cayal shall take place on the Platform.
Payment processing services for LORI on the Platform is provided by Razorpay and is subject to the Razorpay Terms of Service. By agreeing to these Terms or continuing to operate as a member on this platform, you agree to be bound by
Razorpay’s Terms of Service (which can be found at https://razorpay.com/terms/), and any other terms and conditions imposed by Razorpay, as modified by Razorpay from time to time.
As a condition of LORI enabling payment processing services through Razorpay, you agree to provide us with accurate and complete information about you and your business, and you authorize LORI to store and share such information and the
transaction information related to your use of the payment processing services provided by Razorpay.
If you are a lender/owner, we will collect the Hire Fee from the renter/borrower on your behalf and we will transfer you the Hire Fee within 30 working days of you claiming the Hire Fee by clicking on the ‘Collect Button’. We will also
a fee of 15% of the Hire Fee fee (termed as "Lender Fee"), which we will deduct from the amount that we transfer to you.
If you are a renter / borrower, once you have agreed to hire an item from the and the same has been approved & accepted by lender/owner, we will charge you the full Hire Fee on the lender's/owner’s behalf. In addition to the Hire Fee, we
will also charge you an additional fee for your use of the Service provided by this platform, equal to 15% of the price you pay to the lender to hire an item (termed as "Renter Fee").
4. Lender/Owner’s Responsibilities & Conditions
- As a Lender/Owner, one may offer items for rent by listing them on the Platform.
- When listing an item on the Platform, one is responsible for taking pictures that accurately portray the item offered on rent so as to avoid deceit or fraud.
- To allow prompt renting requests and for providing a suitable time to deliver or have the Renter receive the rented item at an agreed location:
You shall provide all relevant details with respect to each listed item, including its pictures, description, location, size, weight, brand, original retail price, purchase bill, rental rate, damage declaration (at the time of
listing) and availability.
If there is any damage or wear & tear to the item that you are listening, it has to be declared pre-handedly by you while listing & update this information from time to time when necessary. Please note that this information shall not
be made publicly visible, but shall be sent to the renter as a consideration for decision making before he/she pays the rental fee as confirmation.
All listings will be made publicly available to Users on the Platform.
Renters will be able to book your listed items via the Platform based upon the information provided in your listing.
- You understand and agree that once an item is requested by the renter, the original retail price or the rental rate for such item may not be altered.
Lender understands & agrees that once the renter/borrower pays the hire fee as confirmation for rental, then the lender cannot cancel such request and has to honor the lending process.
4.2 Condition of Items
Lender shall ensure that his/her item is in good working/usable condition. For instance, in the case of categories such as ‘household items’ in working condition,in case of ‘Clothing & Costumes,’ clean & wearable condition and the like.
Failure to provide Renters with item products in clean, working and usable condition may result in renter denying the item at the time of pick up and might cost you the entire hire amount as the same shall be refunded to the renter.
4.3 Finance and Conduct
You understand and agree that LORI does not act as an insurer itself, but connects you to a third party insuring company so as to facilitate the safety of your listed item. If a Renter requests an item to rent, any agreement you enter
with such Renter is solely between you and the Renter and LORI is not a party thereto, save and except for these Terms.
You understand and accept that LORI shall collect the ‘Hire Fee’ from the renter on your behalf and shall release such amount to you only after you request ‘collect payment’ for this amount and release of such payment shall be practiced
only after the cycle of renting has been completed and is dispute free.
You promise to pay LORI 15% of the amount of ‘hire fee’ as ‘lender fee’ for providing you with the services on our platform. You understand that every time the platform sends you a payout, the amount received by you shall be sent after
deducting ‘lending fee.’
LORI serves only as the limited authorized agent of the Lender/Owner for the purpose of accepting payments from Renters.
You acknowledge and agree that, as an Owner, you are responsible for your own acts and omissions.
5. Renter/Borrower's Responsibilities & Conditions
If you, as a Renter, choose to enter into a transaction with a Lender/Owner for the rental of an item, you acknowledge and agree that you will be entering into an agreement with the Owner, along with any rules, restrictions or conditions
associated with the renting and use of such item as may be imposed by the Lender/Owner.
You acknowledge and agree that you, the Renter, and not LORI, will be responsible for performing the obligations of any such agreements, and that LORI is not a party to such agreements.
LORI’s obligations with regard to any transaction or activity conducted on the Platform is limited to its payment obligations as provided herein and LORI disclaims all obligations and liability arising from or related to any such
transactions or agreements.