What is the Damage Deposit?
The Damage Deposit (or in other bike rental companies you might find it as cushion deposit) is an amount allocated, for us to be able to replace any parts that during the use of your rental bike, have been damaged, lost or it is very hard for us to use them.
Some of the examples are listed below:
- spare tubes used
- bended rims
- lost levers or multitools
- destroyed tyres
- broken shifters
Why the damage deposit is necessary?
In the unfortunate event where a bike upon its return is found to be damaged, it is our top priority to repair it the soonest possible, so that it doesn’t have an impact on all the bookings that follow. Also, we need to ensure that the rest of the cyclists using this bike are going to enjoy a safe and trouble-free time on the saddle.
Is this an insurance plan?
No, this is not an insurance. You are still liable for the total loss or damages exceeding the damage disposit amount.
Example: when after a crash, the bike is not usable at all (broken frame) and we need to order a new to replace it. In that place, customer bares the cost of replacing it.
Allocating / charging the damage deposit
Approximately one weekly prior your bike rental plan starts, we allocate the amount of the damage deposit on your card, notifying you about this action. This is not a charge and will not to pay this amount to your bank in case your monthly statement is issued over your rental period. This is described as “authorisation”.
After our staff collects your bike(s), our mechanics thoroughly inspect the bike and asses any costs incurred to repair any damages. In case no damages found, the allocation on the damage deposit amount is lifted (we cancel the authorisation) and within 2-3 working days that is also reflected in your bank’s statements.
In the unfortunate event that we our mechanics notify us of damages, we keep you updated on every stage of this process, transparently communicating all the costs needed to repair the bike or its part. In that case we charge the amount for the repairs accordingly.
How we calculate the costs? GrCycling has a a significant number of bikes, which enable us to trade on wholesale terms with the various bike manufactures and spare suppliers. Therefore, our charges are based on:
- wholesale rate from the suppliers
- time to repair the repair the bike
- administration and bank fees
- a mindset to minimise the above
How we know that a damage has occurred?
It is part of our procedure, that after ever bike collection our mechanics inspect, document and service the bike, so that it is closer to its original condition. Every bike has a record of pictures, notes and comments that enable us to know in detail the status of each bike. That said, being cyclists ourselves, we understand that using the bike might result minor scratches, chain issues, braking pads replacements or others, and we do not count them as damages.