Information about Biotradable

FAQs

Frequently Asked Questions (FAQs) 

      
       

General

1. In which countries is Biotradable available?

So far, we are operating in 11 European countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain.

Please don’t hesitate to send us an email if you would like to be informed of our future expansion activities!

 

2. Do I have to be a national of these 11 countries that Biotradable operates in order to use the website?

No, you can be a national of any country to use our services. However, you need to have a bank account in one of these 11 countries if you want to sell or lend an item.

 

 

Registration

1. Is registration free?

Yes, registration and unlimited number of listings are free. We only make money if you do!

 

2. Do I need to sign up to access the site?

No, it is free to browse items and to navigate through the website where practical information is shared. You will only need to sign up or log in when you actually engage in a transaction.

 

Discounts / Deals

1. What do I need to do to get the €10 discount?

Just invite minimum 3 of your friends to register to our website and encourage them to start lending or selling. Once each of them makes at least one successful transaction, you will receive €10 off your next rental or purchase.

You can do this here or by clicking the link on your top bar:




Creating a Listing

1. How to make my listing more appealing?

When you create a new a listing, upload high definition images from every angle showing all the important areas. Try to be as analytical as possible, draft a detailed description of your item and highlight the key features that are worth mentioning. Don't forget to add information that is not visible in photos such as dimensions, weight, materials, etc.


2. How do I add a video description of my item?

You have the option to add an awesome video of your item that will attract more potential customers. The only thing you need to do is to upload the video in your YouTube account and then copy and paste your link in the text of your description. The video will automatically appear under the link after you save your changes.

For a better visibility you can also add your video in our YouTube Channel Playlist so it will be seen by hundreds of people who browse videos in our channel. You can access our channel here

Alternatively, you can copy-paste the link below:

https://www.youtube.com/playlist?list=PLqwnx23lasJruqRmLVbbe0WGjKEqJKFib&jct=ULyqjlBjjnFNCSaMd5h0pK_ugUw-KQ

 

Reviews

1. Can I review anyone on the website?

You can only leave feedback to users with whom you have completed a transaction as a borrower, lender, seller or buyer. This option will be available to you only once a transaction has been marked as completed.

We encourage you to always leave feedback after transactions!



Security Amount

1. What is a security amount and how does it work?

As a lender, you need to specify a certain security amount that you expect to receive back in case of damage or loss of your item. It functions just like a security deposit or collateral amount but instead of paying this upfront, the Borrower signs a binding agreement that they will be liable to pay the Lender up to this amount in case of damage/loss.

Don’t forget to specify an amount when you are creating your listing:


 

2. How do I know that the Borrower will pay the security amount in case my item is damaged or lost?

Prior to checkout, all Borrowers sign a binding agreement that makes them liable to compensate the Lender both in case of delay in returning the item as well as for the security amount indicated for the item.

This agreement imposes an obligation to the Borrower to compensate the Lender for damage or loss. Since this is binding, the signed agreement may be used by the Lender to facilitate the claims process.

In addition, all Borrowers go through an ID verification process where the authenticity of their documents and personal information are thoroughly checked.



Lending

1. What should I do before lending my item?

We encourage you to take photos or videos of your item to demonstrate any essential functionality. This will also come in handy in the event of damage or loss where you need to provide evidence.

 

2. What is Quick Rent?

An item that is listed for Quick Rent can be lended/borrowed directly without any request and approval process. This means that if you list your item with a Quick Rent option, you will be automatically “approving” requests to borrow and you can make arrangements right away to handover your item to your Borrower!

Make sure to enable the Quick Rent option while you are listing your item for lending:

Your item will then be listed with a rocket icon to indicate that it is available for Quick Rent:

 

3. What happens if my Lender does not show up?

Please contact us within 12 hours via info@biotradable.com so we can take action.

 

4. My item is damaged / lost! What can I do? 

As soon as the rental period is over and you’ve identified damage or loss of your item, you can open a dispute within 24 hours of the end of the rental period.

During this time, make sure to take clear photos of the damage (if applicable) and send all supporting evidence (photos, documents, etc.) in the messaging function between you and the Borrower. Please ensure to indicate an estimated cost of the damages. In case of loss, this amount will be equal to the full security amount you had specified for that item.

We will review all documentation and evidence provided in the conversation and take appropriate action to conclude the dispute. The final outcome will be communicated to both parties.

 

Buying

1. What happens when I buy an item?

When you choose to buy an item, you are actually booking it for a period up to 7 days during which you can go and see the item. We give you this time so that the item is reserved for you and give you the opportunity to see the item before committing on your final purchase.

The 7 day period begins the moment you purchase an item with Quick Buy or upon approval by the Seller.

 

2. What is Quick Buy?

An item that is listed for Quick Buy can be purchased directly without any request and approval process. This means that your purchase is automatically “approved” by the Seller and you can make arrangements right away to pick up your item!

Look for items with a rocket icon on their listing if you want to Quick Buy:

 

3. What if I change my mind that I no longer want to buy the item?

If your purchase request is already approved by the Seller or upon Quick Buying, you need to contact the Seller and have them cancel the transaction. In the unlikely event that the Seller refuses to comply with your request, you have an option to raise a dispute where you will be fully refunded and the Seller will receive a penalty fee.

Important: Any request to the Seller for cancellation must have reasonable and justified grounds.

 

4. As a Buyer, will I be charged immediately upon checkout?

No, your payment is secured with us and it will only be transferred to the Seller either once you confirm that you received the item or in the end of the 7 day period.

 

Disputes

1. What is a dispute?

A dispute happens when there is an issue that cannot be resolved between the two parties involved in a transaction. A dispute is intended as an option for the Buyer to protect their payment in cases of conflict, and for the Lender to protect them against misuse of their item.

Disputes must be resolved through the messaging function between the two parties involved.

 

2. What happens after I open a dispute?

After you open a dispute, both you and the other party are invited to share or upload relevant information and documents in your messaging function. We will assess the supporting evidence from both parties and reach a fair resolution.

Please note that you must first communicate your issues with the other party before opening a dispute as disputes incur dispute resolution as well as penalty fees for the losing party. No one wants disputes!

 

Cancellations

1. How do cancellations work for the Borrower?

If you cancel before the Lender approves your request, you will not be charged. This is not valid for Quick Rent where no approval is needed.

If you cancel up to 24 hours before the start of the rental period, we will refund your rental fee payment minus the service fee.

If you cancel within the 24 hours before the start of the rental period, you will not receive a refund.

You cannot cancel after the start of the rental period. In such an event, you need to communicate with the Lender.

 

2. How do cancellations work for the Lender?

If you cancel up to 24 hours before the start of the rental period you will be charged a 10% penalty fee for your next transaction.

If you cancel within 24 hours before start of rental period you will be charged a 15% penalty fee in your next transaction and an automatic review of cancellation will be posted on your profile.

You cannot cancel after the start of the rental period. In such an event, you need to communicate with the Borrower.

 

3. How do cancellations work for the Buyer?

If you cancel before the Seller approves your request, you will not be charged. 

If you purchase an item with Quick Buy or upon approval from the Seller, you may not cancel. Only under reasonable and justifiable grounds (for example, when the item does not match the description or you decided that you do not want to continue with the purchase) you can request from the Seller to cancel the order.

 

4. How do cancellations work for the Seller?

If the Buyer requests cancellation under reasonable and justifiable grounds then you as a Seller are encouraged to comply. 

Once you cancel the order, the Buyer will get a full refund.

Important: Try to always be cooperative and responsive in your interactions with the Buyer in order to avoid both negative feedback and disputes. Remember that in the event of a dispute raised against you, you will be charged a penalty fee of EUR10.

 

5. What if the Seller refuses to cancel my order?

If you have reasonable and justifiable grounds to request a cancellation, the Seller is requested to comply. Otherwise you will have the option to open a dispute within 7 days in order to claim your refund. As the impacted party, the Seller will be charged a penalty fee.

Please note that disputes are a last resort and should only be used once all other options of communication with the Seller are exhausted. All disputes incur a dispute resolution fee.

 

Payment

1. What kind of payment options do I have?

We accept Visa, MasterCard and American Express Cards.

2. Does it cost anything to make transactions on Biotradable?

To help with our operations and services we offer to our users, we charge a service fee of 12.5% to lenders and borrowers and a 5% fee to sellers. We do not charge a fee to buyers.


ID Verification

1. Why do I need to get verified?

This is an optional step for all users and a mandatory requirement for Borrowers. We have come up with a creative and secure way to help you avoid paying a hefty security deposit upfront as well as to reassure Lenders that their items are in the hands of verified and trusted users!

Don’t worry, verification only takes a few minutes and you will only have to go through it once.

 

2. How does ID verification work?

In order to be verified, you need to have an official photo ID document such as passport, national ID card, driving license, Visa or travel document. Note that passports are the safest option and are accepted for almost every country.

Please note that in order to facilitate your verification you need make sure that the photo of the document is clear and that it is captured in bright conditions with the right focus, appropriate zoom and without any glare.

Once you are verified, you become a trusted Borrower and you can start borrowing items.

 

3. Which documents do you verify by country?

Below is a table with all countries and documents that are accepted for verification: