Lalamove Security Deposit Policy
Security deposits secure Delivery Partners’ rights who are committed to working with Lalamove based on our shared values. As an on-demand hailing platform, we provide Delivery Partners with the flexibility to earn; hence, we are pursuing a fleet of drivers that contributes to our visions and supports our expansion of the client base with passion. Security Deposit also protects the mutual interest of both parties from Drivers Partners threatening both of our sources of income with inappropriate behaviours. By following these ground rules, we shall create a safe and enjoyable platform for clients and Delivery Partners. You agree to this Security Deposit Policy upon your signing of Delivery Partner Account and it is valid until mutual termination by you and Lalamove;
- Security Deposit usage:
a. The Security Deposit is to secure the mutual benefit between Delivery Partners and everyone who uses the Lalamove Platform;
b. The Security Deposit does not serve as commission or membership fee;
c. Delivery Partner must pay a full amount of security deposit after verification and before taking order. Each Delivery Partner (verified driver account) is required to submit the Security Deposit once only; and
d. Delivery Partner acknowledges that the full amount or any part of the security deposit might be deducted in the following circumstances:
- To set off the money you owe us according to our Terms and Conditions;
- To pay the outstanding balance under your Lalamove Wallet upon your deletion or termination of Delivery Partner Account;
- To pay to the Users or any third party that you have an obligation to pay to according to our Terms and Conditions; and
- Any breach of our Terms and Conditions and Community Guidelines by you that entitles us to deduct your deposit.
a. Each Delivery Partner (verified driver account) is required to submit once and maintain throughout the period as a Delivery Partner the following amounts as a Security Deposit upon verification
4 Wheels: SGD75
2 Weheels: SGD 25
b. All active Delivery Partner Accounts should maintain the above amount of security deposit in his/her account at any time; Any account with an amount below the minimum threshold will be suspended or terminated on our sole discretion.
You will be entitled to request a refund of your deposit upon the termination of your Delivery Partner Account subject to the terms in this policy. Processing of payment would take 20 working days for a full refund.