Wednesday 30 September 2009

Compensation payment on freelender -the first story

I've been asked about the 100% satisfaction rating by freelender users, and also about the compensation payment that was made. The story is as follows:
Freelending CIC ran a tent at a summer festival (Buddhafield.org). Amongst the many things lent out to people never met before & with no deposit were Wellington Boots.
What happened?
1) On the return date the borrower returned to the tent wearing a non-matching pair of Wellingtons.
2) Both parties had previously (at the time of lending) agreed the value of the Wellingtons (£10)
3)The borrower gave his email address and agreed to pay the £10 into the bank as compensation.
4) The money was paid into the bank the following week
5) 100% satisfaction was recorded with all lending done at Buddhafield Festival by festival goers and by Freelending CIC.

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