Cancellation and Refund Policy
CANCELLATION OF LISTINGS AND TRANSACTIONS
If you, as Borrower, request to borrow an item, you may subsequently cancel your request to borrow that item, without any charge or liability by notifying Our Closet, provided such cancellation is effected:
1. at any time prior to that request being accepted by the Lender; or
2. subject to the section below, within 48 hours of submitting that request.
3. If you have prepaid any amounts in consideration for any transaction which you cancel within the terms of the section above, you will be entitled to a refund of such fees. Our Closet will manage all refunds.
Notwithstanding section above, if you, as a Borrower, cancel a request (which has been approved by the Lender) you shall not receive a refund of the amounts otherwise charged (including both Rental Fee and Borrower Commission).
If you, as Lender, list an item for rental, you may subsequently cancel your listing of that item for rental, without any charge or liability:
1. at any time prior to approving a request from a Borrower to borrow an item; or
2. subject to section below, within 48 hours of approving a request to borrow an item by the Lender.
Notwithstanding the section above, if you, as a Lender, cancel the listing of an item (in respect of which, you have accepted a request from any Borrower to borrow) for rental, or cancel any acceptance of a request from a Borrower to borrow an item within the 48 hour period immediately prior to the scheduled start of the rental period for that item, you shall be liable to pay a cancellation charge to Our Closet, which is calculated as an amount equal to 30% of the Rental Fee.
In the event that the Lender pays a cancellation charge to Our Closet in respect of a particular cancelled transaction, Our Closet may credit the account of the Borrower, as appropriate) an apportionment of any cancellation fee received, where Our Closet, at its sole discretion, deems this appropriate.
If Our Closet believes that you intend to cause harm to any items you rent through the platform, or believe you are renting with intent to steal; we reserve the right to cancel your rental immediately and without warning, and charge you an appropriate sum. This sum will up to but not more than the total value of the items in question. It is at Our Closet’s discretion to determine what is an appropriate sum in each instance.