Lender Agreement

Askmyneighbor.org, LLC, DBA BOLELO.org, hereinafter referred to as the “Community,” operates an online marketplace facilitating the lending and borrowing of items between members. The Community provides to its members a marketplace for borrowers and lenders to come together and borrow/lend items for a fee. This document, the Borrower Agreement and the Community’s Terms and Conditions set forth the terms of the agreement among and between the Community and each member who uses the Community’s marketplace to borrow or lend one or more items.

THE LENDER WARRANTS AND AGREES

  • That s/he is at least 18 years of age with state-issued photo identification.
  • S/he is the owner of the item or has the proper written authority to lend the item being listed on BOLELO.
  • That the item is not stolen, condemned or subject to legal investigation or inquiry.
  • That the item is not irreplaceable or overly fragile, and the Lender is willing to accept normal wear and tear from the intended use of the item.
  • That Lender will not offer through BOLELO perishable items, medical devices that require a prescription or special training, chemicals, firearms and other weapons, pornographic or other sexually explicit items, or illegal items.
  • That renting, leasing or lending the Lender’s item would not violate the intellectual property rights of any other party.

DELIVERY

  • Lender will store their item in a location that is safe for Borrowers to visit for pick up, and maintain the item such that it will transport and operate safely.
  • For Lender’s safety and the safety of Lender’s item, it is the Lender’s responsibility to ask the Borrower for proper photo identification.
  • For the safety of the Borrower, the Lender also agrees to present a photo Identification to the Borrower at the time of the meeting, upon request.
  • Lender should take a photograph of the Borrower’s Identification. This photo should remain in Lender’s possession only while the Borrower has the Lender’s item in temporary possession, and should be deleted when the item is returned undamaged.
  • In the event the Borrower claims that the Lender’s item is defective or varies from the item description posted by the Lender, the Lender and the Borrower shall attempt to resolve the matter through a good faith discussion. In the event the Borrower rejects delivery of the item due to a claimed defect or variation, the Lender agrees and acknowledges that any obligation to refund amounts paid by the Borrower shall be that of the Lender, and that the Community shall have no obligation to refund or pay any amounts to any party on account of the Borrower’s rejection and/or the claimed defect or variance.

EARNINGS/TAXES

  • Any taxes and other government fees levied as a result of monies received by Lender from the BOLELO transaction are the Lender’s sole responsibility.

RETURN OF LENDER’S ITEM

  • The Lender agrees and acknowledges that it is the Borrower’s sole responsibility to return the Lender’s item at the time and place specified when the booking is made or as may be otherwise expressly agreed to by the Lender and the Borrower. The Lender agrees and acknowledges that the Community has no obligation with respect to return of the Lender’s item, other than as set forth below regarding the Community’s Direct Physical Damage Loss Waiver program.
  • The Lender agrees and acknowledges that, in the event of a late return, it is the Borrower’s sole responsibility to notify the Lender and to pay to the Lender an additional fee in the amount of the price paid by the Borrower for the booking. The Lender agrees and acknowledges that the Community has no obligation with respect to payment or collection of this additional fee.
  • If the Borrower fails to return the item at the specified time and place and does not notify the Lender and make alternate arrangements to return the item within 24 hours after the designated time for return of the item, the item will be considered stolen by the Borrower and the Lender will file a police report to that effect. The Lender agrees and acknowledges that the Community has no obligation with respect to reporting the matter to the police.

DAMAGE TO ITEM & LOSS WAIVER PROGRAM

  • Should a dispute occur due to damage to or loss of the item, the Lender should first attempt to reach an amicable solution with the Borrower. However, if these efforts do not resolve the issue, any accidental damage or loss may fall within the Community’s Direct Physical Damage Loss Waiver program (“DPDLW”).
  • The DPDLW provides Lenders and Borrowers with peace of mind regarding loss or liability for accidental loss or direct physical damage to the item borrowed. The DPDLW is funded by a small added cost to the rental fee, which is paid by the Borrower as a required part of every transaction in the Community’s marketplace. In the event of accidental loss or damage to the Lender’s item while it is in the possession of the Borrower, the DPDLW program is available to reimburse the Lender for the cost of repair or the fair market value of the item, whichever is less.
  • DPDLW claim procedure:
    • In the event that the Lender’s item is returned with damage beyond normal wear and tear, or is not returned at all, the Lender should make good faith attempts to amicably resolve the issue with the Borrower.
    • If attempts at amicable resolution fail, the Lender may initiate a DPDLW claim.
    • Claims are initiated using the “chatbot” feature at Bolelo.com. All claims must be initiated within seven (7) days after the scheduled return date for the item in question.
    • If the Borrower fails to return the item, the Lender must file a police report and present the police with all of the documentation of the transaction, including the Lender’s photograph of the Borrower’s photo identification. A copy of the police report must be submitted with the Lender’s DPDLW claim.
    • If the item is returned having sustained damage beyond normal wear and tear, the Lender should document the damage with photographs and/or repair estimates. Photographs and repair estimates must be submitted with the Lender’s DPDLW claim.
    • The Community uses a third party valuation service to determine the fair market value of items offered in the Community marketplace. The valuation amount determined by the Community’s third party valuation service will prevail.
    • The maximum fair market valuation limit for an item is $5,000.
    • Upon approval of the DPDLW claim, the Community will reimburse the Lender for the lesser of the cost of repairing their item or the item’s fair market value, as determined by the Community’s third party valuation service.

WARRANTIES AND LIMITATION OF REMEDY

  • The Lender agrees and acknowledges that the Community makes no warranties as to any item offered through the Community’s marketplace. Any and all warranties, express or implied, are given solely by the Lender. THE COMMUNITY DISCLAIMS ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING BUT NOT LIMITED TO ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.
  • Any and all statements, descriptions, photographs and representations included in the item posting in the Community’s marketplace are made by the Lender, and not the Community.
  • The Lender is obligated to reasonably inspect the item upon return by the Borrower. Lender’s sole recourse in the event damage is identified, or in the event the Borrower fails to return the item, is to submit a timely DPDLW claim, following the procedures set forth above. IF LENDER FAILS TO TIMELY SUBMIT A DPDLW CLAIM, LENDER WILL BE CONCLUSIVELY PRESUMED TO HAVE CONDUCTED A REASONABLE INVESTIGATION AND ACCEPTED THE ITEM AS BEING IN THE SAME CONDITION AS IT WAS WHEN DELIVERED TO THE BORROWER, REASONABLE WEAR AND TEAR EXCEPTED.

GENERAL

  • This Agreement constitutes the entire agreement between the parties. No modification or amendment of this Agreement shall be effective unless in writing and signed by both parties. This Agreement replaces all prior agreements between the parties.
  • This Agreement shall be construed in accordance with the laws of the State North Carolina. In the event that the provision requiring application of North Carolina law to this Agreement should be held unenforceable as against public policy or otherwise, then this Agreement shall be construed in accordance with the laws of the State of Lender’s primary residence.
  • If any portion of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision, it would become valid and enforceable, then such provision shall be deemed to be written, construed, and enforced as so limited.
  • The failure of either party to enforce any provision of this Agreement shall not be construed as a waiver or limitation of that party's right to subsequently enforce and compel strict compliance with every provision of this Agreement.
  • BOLELO’s role is limited to the facilitation of linking Borrower and Lender for the lending/borrowing transaction. No guarantee/warranty of any kind is offered, expressed, or implied. BOLELO will not mediate nor engage in arbitration of disputes between Borrowers and Lenders.
  • If the Lender has a dispute with one or more other members, the Lender shall release the Community (and its officers, directors, agents, subsidiaries, joint ventures, and employees) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.

INDEMNIFICATION

  • Lender shall indemnify and hold the Community (and its officers, directors, agents, subsidiaries, joint ventures, and employees) harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of Lender’s actual or alleged actions in breach of this Agreement, in violation of any law, and/or in contravention of the rights of any other person. Lender’s obligations to indemnify and hold harmless shall extend to any claims for personal injury, property damage or other economic injury actually or allegedly caused by the Lender’s actions or inactions in use or maintenance of an item, description of the item and/or provision of instructions for use of the item.
  • Lender shall not hold the Community responsible for any content, actions, or inactions of any Lender, Borrower or other member of the Community.

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