COVERAGE THAT RAISES THE BAR
We don't just say that we value our lenders. We back it up - to the tune of ZAR50,000. That's an unmatched level of protection in the P2P leasing industry. You're part of the SharedCiti family, and we stand by our family.
UNMATCHED CLAIM PAYOUT
In the rare case something goes wrong and your asset is not returned, we don't want to bother you with a million questions and endless excuses. Rather, we want to be the people that are there for you when you need us most; be the force that conspires to protect you.
THE LENDER GUARANTEE PROVIDES TOTAL PEACE OF MIND FOR SHAREDCITI LENDERS.
Although you're unlikely to experience any issues with asset theft on SharedCiti, we understand that you need protection. SharedCiti lender guarantee automatically covers you against any loss or theft of your assets suffered as a result of lending, leasing, borrowing or renting them via SharedCiti. This guarantee is limited to R50,000 and only covers you for the period in which the product has been leased or rented out via SharedCiti. The payments are subject to certain conditions, limitations, and exclusions, the details of which can be found in our terms and conditions. Lenders seeking payment under the Lender Guarantee agree to cooperate with SharedCiti, including providing documentation of the loss they're claiming.
HOW MUCH DO I PAY FOR THE GUARANTEE?
Nothing. The SharedCiti lender guarantee doesn’t cost you anything. It's our way of saying thank you for leasing your assets via the platform.
WHAT DOES THE LENDER GUARANTEE NOT COVER?
The Lender Guarantee is not insurance and should not be considered as a replacement or stand-in for homeowners or renters insurance. The Lender Guarantee does not cover:
- Theft or loss of covered assets outside the leasing transaction period
- Damages to the leased assets
- Theft of prohibited items leased through SharedCiti
Lenders may want to consider independent insurance to cover such items and periods.
SHOULD I HAVE A SECURITY DEPOSIT? HOW DOES THE LENDER GUARANTEE WORK WITH THE SECURITY DEPOSIT?
The Lender Guarantee does not cover damage to the asset as well as reasonable wear and tear. Lenders can use our easy system to implement a security deposit to cover damage, wear and tear, if they so choose. The Lender Guarantee is designed to cover asset theft. For smaller, simpler accidents and damages,a security deposit can be useful for lender.
Adding a security deposit to your listing is easy. You can either set a security deposit when you list your asset or alternatively login into your account, under the tab My Listed Asset, choose View My Listed assets, and then click Edit and there you can change your security deposit setting.
HOW LONG WILL IT TAKE FOR MY PAYMENT REQUEST TO BE PROCESSED?
The length of process will vary depending on the severity of the case, the quality of documentation, and the cooperation of the host and guest, but we strive to resolve most cases within a week of their submission.