1. Introduction
LEND-IT.CA™ is provided by Porticus Marketplace Inc. (“LEND-IT.CA,” “we,” “us,” or “our”).
We understand that trust is essential in facilitating rental transactions. To provide added peace of mind, we offer this Lender Guarantee Policy (the “Policy”).
This Policy is not insurance. It is a supplemental protection program that may provide reimbursement in certain eligible circumstances, subject to the terms, conditions, and limitations set out below.
To be eligible under this Policy, a rental must be both:
- reserved through the LEND-IT.CA™ platform; and
- paid through the platform’s payment system.
Rentals that do not meet both requirements are not eligible.
LEND-IT.CA™ acts solely as a facilitator. All rental arrangements are made directly between the Lender and the Borrower. This Policy does not make LEND-IT.CA™ a party to any rental agreement.
All determinations under this Policy, including eligibility, claim approval, valuation, and reimbursement amounts, are made at LEND-IT.CA™’s sole discretion.
2. Definitions
“Borrower” means a user renting an item through LEND-IT.CA™.
“Business Lender” means a user who is subscribed to LEND-IT.CA™ as a business at sign up and/or lists items for rent on LEND-IT.CA™ in the course of carrying on a business or commercial rental operation.
“Claim” means a request for reimbursement relating to a single rental item arising from Damage or Non-Return.
“Damage” means physical harm to an item that (a) occurs during an Eligible Rental; and (b) materially impairs the item’s intended use or reduces its fair market value, as determined by LEND-IT.CA™. Damage does not include:
- normal wear and tear;
- cosmetic or minor surface issues that do not materially affect use;
- pre-existing issues not properly disclosed or documented prior to the rental; or
- any condition that does not reasonably require repair or replacement.
“Eligible Rental” means a rental that is both reserved and paid through the LEND-IT.CA™ platform.
“Individual Lender” means a user who lists an item for rent on LEND-IT.CA™ other than in the course of carrying on a business or commercial rental operation.
“Fair Market Value” means the estimated current value of the item, taking into account age, condition, depreciation, and comparable market pricing.
“Lender” means a user listing an item for rent on LEND-IT.CA™.
“Non-Return” means a failure by the Borrower to return the item by the agreed return date and time, after reasonable follow-up attempts have been made by the Lender.
“User” means any person or entity that accesses or uses LEND-IT.CA™, including Borrowers, Lenders, Individual Lenders, and Business Lenders.
3. Coverage Scope
We offer up to CAD $3,000 in reimbursement for eligible Damage or Non-Return of an item, subject to this Policy.
This Policy is intended to complement, not replace, other recovery options.
LEND-IT.CA™ reserves the right to request information regarding any insurance claims or other recovery efforts related to the loss, and to adjust or deny reimbursement accordingly.
LEND-IT.CA™ does not provide duplicate or overlapping compensation for the same loss.
Reimbursement amounts are determined by LEND-IT.CA™ and may be based on repair cost, replacement cost, Fair Market Value, or a combination of these factors.
4. Eligibility for Coverage
The Policy applies automatically to lndividual Lenders.
Business Lenders are not automatically covered but may be approved at LEND-IT.CA™’s discretion. Business Lenders seeking eligibility under this Policy must contact LEND-IT.CA™ at info@lend-it.ca to request an application form. Completed application forms must be submitted to LEND-IT.CA™ for review and must include the information and supporting details requested in the form, including business, operational, and insurance information. LEND-IT.CA™ may request additional information or documentation as part of the review process. Approval is discretionary and may be revoked at any time.
Eligibility may be revoked if a Lender breaches this Policy or the Terms of Service or otherwise poses risk to the platform.
5. Requirements for Coverage
To be eligible for reimbursement, Lenders must:
- provide accurate and complete listing information
- ensure items are safe, functional, and in good condition at the start of the rental
- clearly communicate intended use, limitations, restrictions, and any safety or operating instructions to the Borrower
- take clear, time-stamped photos immediately prior to the rental showing the condition of the item
- conduct all key communications through the LEND-IT.CA™ platform where possible
- report Damage within 24 hours of the end of the rental, and report any Non-Return as soon as it becomes apparent, after reasonable follow-up attempts have been made by the Lender, that the item has not been returned by the agreed return date and time
- notify LEND-IT.CA™ before incurring repair or replacement costs
- take reasonable steps to mitigate further loss or damage
- cooperate fully with the claims process
Failure to meet these requirements may result in denial or reduction of reimbursement.
6. Exclusions
The following situations are not covered under this Policy:
- Normal Wear and Tear: Damage resulting from ordinary use or gradual deterioration.
- Pre-Existing Damage: Damage that existed prior to the rental and was not clearly disclosed or documented.
- Loss of Income: Any indirect or consequential losses, including lost rental income.
- Misuse or Use Outside Intended Purpose: Damage resulting from misuse where the Lender did not clearly communicate intended use, limitations, or restrictions.
- Failure to Follow Instructions or Safety Guidelines: Damage resulting from failure to follow instructions where those instructions were not clearly provided by the Lender.
- Failure to Comply with Policy or Terms: Claims arising from the Lender’s failure to comply with this Policy or the Terms of Service.
- Prohibited Items: Claims involving items that are not permitted under the platform.
Duplicate or Recovered Losses: Losses already covered by insurance or otherwise recovered from another source, to the extent of such recovery.
7. Claims Submission
Claims must be submitted through the platform or by email to info@lend-it.ca.
The submission must include:
- Lender contact details
- a clear description of the incident
- item details (including make, model, and any identifying information such as serial numbers, if available)
- the rental period
- pre- and post-rental photographic evidence
- repair or replacement estimates with supporting documentation
- confirmation that the information provided is accurate
In cases of alleged non-return or suspected theft, LEND-IT.CA™ may require supporting documentation, including but not limited to a police report or other evidence, before assessing a Claim.
Incomplete or delayed submissions may result in denial of the Claim.
8. Claims Review and Determination
LEND-IT.CA™ will review Claims through a structured process.
We reserve the right to:
- request additional documentation or evidence
- rely on platform records, including listing details, messages, timestamps, and transaction data
- contact the Borrower
- obtain third-party input or assessments
- determine eligibility, causation, and valuation
- approve, deny, or adjust any Claim
A Full and Final Release may be required prior to issuing any reimbursement.
9. Fraud and Misuse
LEND-IT.CA™ reserves the right to deny any Claim where there is evidence of fraud, misrepresentation, or misuse of this Policy.
Users who engage in fraudulent or abusive behaviour may be subject to suspension or removal from the platform and/or legal action as necessary.
10. Policy Changes
LEND-IT.CA™ reserves the right to modify, suspend, or discontinue this Policy at any time.
The version of the Policy in effect at the time of the rental will apply.
11. Contact
For questions or assistance, contact info@lend-it.ca.