Security Deposit Policy

1. I agree to the following and pay the following Security Deposit with regards to my vehicle type and city:

I fully understand that the above table is subject to change and I further consent to Lalamove reserving full discretion to change the amount of Security Deposit.

2. I agree that the Security Deposit required above shall be paid in full. I agree and authorize Lalamove to make the deduction from my Wallet corresponding to any deficiency in the security deposit if and when such deposit falls below the required amount. Further, I also authorize Lalamove to deduct from my wallet the amount of the security deposit to pay for damages after due notice to me and my failure to provide such payment in cash.

3. In the event that I fail to furnish the full security deposit, Lalamove has the right to put my Lalamove Account on hold and suspend my access thereto. Lalamove shall only reactivate my Lalamove Account once the security deposit is paid subject to the sole discretion of Lalamove.

4. All Security Deposits collected by Lalamove will be used to protect the mutual interests of Lalamove and all Participating Drivers therefore, I hereby agree that such Security Deposit shall be answerable for the following:

1. Payment for Users in case of mishandling or any damage to the items for delivery or in the event of any complaints from third parties or clients relating to the performance of the Participating Driver's obligation to deliver.
2. Payment for any penalty charged by clients, third parties, or government on account of participating driver's mistake, negligence, or actions or inactions.
3. Penalty for violation of the terms and conditions of the use of the Platform, this Agreement, Lalabag Agreement, Sticker Agreement, Data Privacy Policy, and Code of Ethics.
4. Payment for use of Lalamove collaterals when the number of required orders is not met as indicated in this Agreement upon offboarding from the platform.
5. Payment for damage to any Lalamove collaterals as provided in this Agreement.

5. Notwithstanding the above, I agree and understand that I am solely liable to the full extent of the claim of the User against me as the Participating Driver for any claim for loss, mishandling, or damage to the items for delivery. I agree and authorize Lalamove to forfeit the remaining amount in the wallet as payment for damages to the user in case I fail to submit proof that I am not liable for any claim against me.