Lalamove Security Deposit Notice

The purpose of security deposit is to identify driver partners who are committed to working with Lalamove based on our shared values. The Lalamove platform provides customers, orders, and income for drivers and we are constantly pursuing a fleet of drivers that can contribute to our distinguished reputation to sustain and expand our customer base. The purpose of collecting the Security Deposit is to protect the mutual interest of both parties and remove drivers that may put you reputation on the line and affect your source of income. Lalamove believes by collecting the Security Deposit, both parties can help each other flourish and allow us to establish a better platform together.

1. Security Deposit usage: 

1. The Security Deposit is to secure the mutual benefit between driver partners and the platform. 
2. The Security Deposit does not serve as commission or membership fee; it can be served as other purpose upon agreement
3. The Security Deposit contract commences upon driver signature date and is valid until mutual termination by Lalamove and the signed party.
4. Each verified driver on the platform must provide the Security Deposit. Each driver (verified driver account) is required to submit the Security Deposit once only.

2. Amount, Violations & Penalties

1. Each driver partner (verified driver account) is required to submit the following amounts as a Security Deposit upon verification once only. 
1. Van / Truck : HKD 200
2. Motorcycle / Walker : HKD 100
2. All active driver partner accounts should have a minimum of HKD 100 security deposit in his/her account; Any account with an amount below will be frozen or deactivated.
3. All verified drivers (each verified driver account) must abide by all Lalamove driver terms and conditions for the duration of the contract.
4. If any Lalamove policies are breached by any drivers (verified driver account), Lalamove reserves the right to enforce disciplinary actions and/or a fine deducted from the Security Deposit.