10. Financial Conditions

A. Borrowing Price

The borrowing price consists of a daily borrowing price plus a per-kilometer price.

The borrowing price is freely chosen by the Car Owner, provided that the daily borrowing price is not less than AED 25 in UAE and EGP 100 in Egypt.

In order to provide Users the flexibility to manage special cases, FriendyCar does not choose the daily borrowing price.

It is the User’s responsibility not to charge less than these minimum prices. FriendyCar reserves the right to refuse to validate borrowings below these minimum prices or, if the borrowing has already begun, to suspend payment to the Car Owner until the situation has been put right.

The Borrower represents that he/she has authorized FriendyCar to collect the different sums (borrowing price, security deposit, compensation, penalties and any other extra charges) in the name and on behalf of the Car Owner.

For Short Term Rentals "Less than 3 months" ; Maximum number of kilometers per day is 150 KM, the Borrower is charged 0.5% of the daily borrowing rate for every extra 1 kilometer. (A promotional Extra 15 KM/day might be allowed depending on the rental period) 

For Long Term Rentals "3 months and above"; as stated in the different plan rates in the Long Term borrowing agreement

B. Service Fees

The total borrowing price, penalties, Salik or any other toll charges, traffic tickets charges, ..etc for the Borrower, breaks down as follows:

The amount resulting from the Service Fees collected by FriendyCar for business networking.

The fees collected by FriendyCar as follows:

• FriendyCar collects the borrowing fees and a security deposit when the borrowing is confirmed;
• At the end of the borrowing, the Car Owner and the Borrower adjust the mileage estimate made at the beginning of the borrowing via the Website or App. FriendyCar then either collects or pays the difference between the amount initially collected and the total price of the transaction, taking into account the mileage adjustments;
• FriendyCar pays 80% of the total borrowing price (and all other extra charges mentioned above) to the Car Owner within 45 business days of the end of the borrowing and dispute settlement (if any);

FriendyCar may suspend payment to the Car Owner if additional verification is required or if the Borrower makes a claim/dispute.

In this case, FriendyCar will only transfer the money to the Car Owner, if:

• If an agreement is reached between the Car Owner and Borrower and both the Car Owner and the Borrower can provide proof of this agreement to FriendyCar; or
• If a judicial authority has made a binding decision ordering the payment of all or part of the borrowing price (and other charges mentioned above) to the Car Owner or the return of all or part of that amount to the Borrower.

C. Breakdown Management Fees

For any failure under normal use of the Vehicle by the Driver, the Owner is liable for administration charges of AED 200 in UAE and EGP 500 in Egypt to be paid to FriendyCar.

These breakdown management fees are applied to the Driver if it is held responsible for the failure in the context of an expert commissioned by the Owner.

D. Damage Management Fees

By borrowing the car, the Borrower is agreeing to adhere to all the terms of the Car Owner’s car insurance policy, and is responsible to pay

1. The insurance excess/car repair cost up to 2,000 AED in UAE and 4,500 EGP in Egypt

2. Plus 25% administration charges paid to FriendyCar

3. 50% of the borrowing fees while the car is being repaired,  with a maximum value of 15 days rental value (i.e. the repair time has a cap of 30 days)

This amount doesn’t waive the borrower from the other financial and legal responsibilities as defined in these Terms.