Remember when you were younger and you discovered that your neighbour owned all the Harry Potter books, so you’d sit at their house everyday to read as much as you could before being asked to come home? Or when your friend got her first DSLR and you learnt the importance of photography ever time you went over to visit? Borofy brings back that magic of sharing, but this time at your own convenience and in your own house. We provide a very safe and secure lending and borrowing platform that allows you to make some money off the guitar that’s been gathering dust in your closet, or that let’s you take up a niche hobby like pottery without needing to invest a ton! You can read on to find out exactly how.
It’s extremely safe to lend with Borofy – even more so than lending to your neighbours, because we take complete responsibility! Not only do we indemnify the possessions you’d like to lend, we also act as the go-between, ensuring that you don’t have to engage in the acrobatics of trying to coordinate with the borrower, or vice versa. We know that your possessions are prized, and everyone on the Borofy team knows what it’s like to have an emotional attachment to your favourite book, CD, or to the Sherwani that you got married in! And that’s why we insist on making sure we have a warm, trustworthy and safe platform. When you participate, you not only get to revel in the childhood nostalgia of simpler times, but you also directly impact the environment by reducing your carbon footprint and by requiring fewer products to be produced!
Creating an account is simple – you will need to use your pre-existing Google/Gmail account to sign up with us, otherwise you can use your mobile number to sign up or log in. This will be super convenient for you as well, fewer account names to remember! On the top right corner of the Borofy homepage, you will find a ‘Sign In’ button. Once you click on that, you can either click on the Google login button or enter your phone number and follow the steps. The process is just as simple when it’s your first time as well – the first time you sign in, an account will be made for you with Borofy!
Your account is your one-stop shop for all things borrowing & lending. You can keep track of the items you’ve listed, check in on the items you’ve borrowed and their due dates, view your payment history and find records of all your transactions.
We accept a wide range of listings – Electronics, Hardware, Musical Instruments, Sports Equipment, Books, Cameras and many more. However, we do accept miscellaneous listings as well, which you can find/list under the category ‘Other’.
Once you’re done signing in, you should find an option that reads "List your Item" on the top-right corner of your screen. Once you click on it, you will be taken to a form into which you can enter details about your listing. When you’re done, click accept, and your listing will go live!
If your item seems too unique to fit into any of your categories, like a set of magician’s trick cards, or some scuba diving equipment, no worries! We welcome it! You can list your item under the category "Others" and after we evaluate your listing to make sure it’s a-okay, your item will go live on our website.
Please do make sure that the quality and condition of your items, even if not as good as brand new, are adequate and usable, and please make sure of their upkeep. Borrowers will be discerning, and any serious deficiencies in the safety and conditions of the listing will lead to monitoring from our team, and potential blacklisting. We only ask that you be considerate, and that you only lend items that you’d be satisfied borrowing.
As far as supplanting your listing goes, a picture is worth a thousand words. Please use original, high-resolution images for your listings. We strongly encourage taking it up a notch, flexing your artistic skills, and providing aesthetic pictures with flattering lighting – this could increase chances of your item being borrowed by as much as thirty percent!
If you change your mind about a listing or forget to add a crucial detail, it’s no problem – you can amend listings as and when. Once you sign in, you will find your name on the top-right corner of the website. Click on your name and a list will appear. From this list you will have to pick the My Items option. Once you select that, under the ‘Action’ column you will find an ‘X’ icon against all your live items. You can click on it and follow the steps prescribed to delete your listing. To edit your listing, go to your listing’s page and click on the ‘Edit’ icon.
Emergencies and wrongly marked calendars happen all the time, we get it! You may have forgotten that you were going to be needing your tools for your own pet project one weekend, but you can take your tools off the market temporarily, without even deleting your listing.
You will get to decide your daily, weekly and monthly rate of the rental as well as your security deposit (up to 25% of MRP) and once you get an order, a Borofy representative will collect the item from you and will perform a quality check. Within max 24 hours of of item getting delivered to the borrower, the rental amount (excluding Borofy's commission) will be credited to your account! We hold the security deposit with us and if there’s a dispute, that will be partially or fully credited to you as well. It’s that easy.
You, as the lender, do! Of course, they will have to be reasonable and be not more than half the value of the item listed, but as the lender you can settle on the final rupee amount at your discretion.
You can use your account only for borrowing but we strongly encouraging listing for lending. We are, after all, a digital neighbourhood of sharing, and it’s only fair to contribute if you’re benefiting from it! And you never know – that old physics textbook that you used once in the 8th grade could come in handy to someone else! So we really do encourage listing, even though we haven’t included any mandatory conditions as such.
Before borrowing an item, you will have to complete your KYC Registration with us. You will need to submit your address proof and photo identity, which you can do by clicking on ‘My Account’ on the top-right corner. Once you do, you will find an option that says ‘Upload KYC’. Click on it, follow the instructions that appear, and you’ll be good to go.
You’ll find a search bar on our home page – just enter what you’re looking for, click on the search icon, and choose your favourite listing from the results that appear! Once you make a selection, you will be asked to choose the duration of your rental i.e. your start and end date, after which you have to click ‘Add to Cart’. Enter your delivery address, make your payment, and voila – your requested item will reach you on the date that your rental period begins.
For now, you can only borrow the items listed on the website. But have you come up short often, not being able to find what you want to borrow? Send us a message at email@example.com and we’ll consider adding a ‘Requests’ section!
It depends on the rate that the lender sets as every item has a cost-per-day/week/month. That, multiplied by the total duration of your rental period, plus the security deposit and delivery fee will be the total payment you will have to make upfront. But the security deposit will be refunded to you after the rental period gets over without any mishap.
As mentioned earlier, you will have to complete your KYC Registration with us before being able to borrow or lend. It should be no problem at all as long as you’re a bonafide user, and this is to make our platform all the more safe and trustworthy. After all, if you were living in a gated community, I’m sure you’d insist on security measures.
You will need to submit your address proof and photo identity, which you can do by clicking on ‘My Account’ on the top-right corner. Once you do, you will find an option that says ‘Upload KYC’. Click on it, follow the instructions that appear, and you’ll be good to go!
We do all your in-between work to ensure there’s minimal risk and more accountability. Our trusted representatives will visit the lender, pick the item up, and deliver it to the person borrowing it. Once the rental period gets over, they will visit the borrower’s place, pick the item up again, and deliver it back to the lender. This way, your item stays safer and there is a third party quality check at every instance.
We urge all our users to keep their items in good condition, but in the event of damage or loss, that’s what the security deposit is for. The amount will not be refunded to you and will be credited to the lender instead. And it’s only fair that you pay any additional repair or replacement costs separately.
We hope that no such situation arises, but if it has, we’re so sorry to hear about it. Not to worry though, because Borofy has a lot of safety mechanisms in place. We will first and foremost credit the security deposit to you. In case of substantial damage or loss, the borrower will pay you for the costs of the same and it has been stipulated in their contract.
In case the item hasn’t been returned or the borrower seems to be absconding, we will lodge a complaint with the police and ensure that a case is filed. The borrower’s account will also be blacklisted. But you can relax - the 50% cost of replacement will be paid by Borofy (refer to our Terms of Service), if the borrower goes missing or has absconded. As always, our policy is to put you first.
You can find them here. They may seem like legalese and obscure jargon but we request that all our users go through our T&Cs very carefully. We’ve tried to cover the most important points with our FAQs, but if you find yourself still confused, be sure to give one of our helpful customer service representatives a call!
We use payment processing firms that are fully PCI-DSS compliant, and if those are just letters to you, we essentially hire those firms that employ industry-leading standards for payment security. If you’re familiar with the industry you’d perhaps understand that your payment information is collected on a secure HTTPS web page using SSL. Most importantly, we never store your credit card number or your security code (CVV code). We only store a payment "token" (an order number generated at random), which allows us to look up your payment transaction without having your card details.
In short – to answer your question – how secure are the payment transactions? Incredibly secure.
We do not sell, rent or otherwise disclose personal information collected on our site to third parties, and we think privacy is a right. If you’ve read our previous question, you know that we do not store payment details, and we certainly do not harvest information.
We completely get it, sometimes it would just be easier to have a conversation, and we’re happy to oblige! Please write to us via our contact page here and we will call you back at the earliest. You can also call our customer service helpline at (+91) 7892350091.
There you go! If you’d like some more information to peruse at your leisure, you can access our blog here, where we have curated content to help you through the process step-by-step. If we’ve missed something, or you have a question we haven’t answered, do send it to: firstname.lastname@example.org. Seriously, we’re constantly surprised by how creative our users are! We’d love to hear from you.