Payment and Payout Policy

1.1 Purpose

This Payment and Payout Policy explains how payments, security deposits, refunds, fees and payouts are processed through the Tool-O Platform.

The purpose of this Policy is to promote secure, transparent and reliable financial transactions while supporting the interests of both Owners and Borrowers.

1.2 Objectives

This Policy seeks to:

• explain Platform payment processes;

• promote secure transactions;

• support timely payouts;

• protect security deposits;

• reduce payment fraud;

• support dispute resolution;

• maintain financial transparency;

• comply with applicable legal obligations.

1.3 Scope

This Policy applies to:

• Booking payments;

• security deposits;

• Platform fees;

• Owner payouts;

• refunds;

• payment processing;

• payment verification;

• financial adjustments;

• other financial transactions conducted through the Platform.

1.4 Guiding Principles

Tool-O seeks to administer payments in accordance with the following principles:

• security;

• transparency;

• fairness;

• accountability;

• reliability;

• compliance with applicable laws;

• protection of Users.

1.5 Relationship with Other Policies

This Policy should be read together with the:

• Terms of Use;

• Refund Policy;

• Claims Policy;

• Dispute Resolution Policy;

• Fraud Prevention Policy;

• Anti-Money Laundering and Sanctions Policy;

• Privacy Policy;

• all other Platform policies.

1.6 Updates

Tool-O may amend this Payment and Payout Policy from time to time.

The most current version published on the Platform replaces all previous versions.

2.1 Platform Payments

All Booking payments are intended to be processed through the payment methods made available on the Platform.

Users must not attempt to bypass Platform payment processes where doing so breaches the Terms of Use or other Platform policies.

2.2 Payment Processing

Payments may be processed by independent third-party payment service providers.

Tool-O does not directly process, store or control Users' payment card information except as permitted through authorised payment providers.

2.3 Booking Charges

Where applicable, a Booking payment may include:

• rental charges;

• Platform fees;

• delivery or collection fees;

• applicable taxes;

• security deposit authorisations;

• other disclosed charges.

The total amount payable will generally be displayed before a User confirms a Booking.

The Owner determines the Rental Amount for a Listing. The total amount payable by a Borrower may include the Owner's Rental Amount, applicable Platform fees, delivery or collection fees (where applicable), taxes, Security Deposit authorisations and any other disclosed charges. Tool-O will clearly display the total amount payable before a Booking is confirmed.

2.4 Security Deposits

Where applicable, Tool-O may place a hold, authorisation or other permitted transaction against a payment method as a security deposit.

Security deposits may be managed in accordance with the Terms of Use, Claims Policy and Dispute Resolution Policy.

2.5 Owner Payouts

Eligible rental earnings may be paid to Owners after completion of the Booking and satisfaction of applicable payment, verification, Security Deposit, Claims and dispute resolution processes.

Payout timing may vary depending upon:

• payment provider processing;

• banking systems;

• verification requirements;

• Security Deposit status;

• Claims;

• disputes;

• applicable legal obligations.

Tool-O may delay, adjust or withhold an Owner Payout where reasonably necessary to complete Security Deposit processing, investigate suspected fraud, comply with legal obligations, resolve a Claim or Dispute, or protect Users and the Platform.

2.6 Payment Verification

Tool-O may request additional verification before processing certain payments or payouts where reasonably necessary to:

• reduce fraud;

• verify identity;

• comply with applicable laws;

• investigate unusual activity;

• protect Users.

2.7 Failed Payments

Where a payment cannot be successfully processed, Tool-O may:

• request an alternative payment method;

• suspend the Booking;

• delay confirmation;

• restrict Platform access;

• cancel the Booking where reasonably appropriate.

2.8 Financial Adjustments

Tool-O may make financial adjustments where reasonably necessary to:

• correct processing errors;

• process refunds;

• resolve Claims;

• comply with legal obligations;

• rectify duplicate transactions.

2.9 Currency

Payments will generally be processed in the currency displayed on the Platform at the time of the transaction unless otherwise stated.

Currency conversion, where applicable, may be performed by payment providers and may be subject to their terms and exchange rates.

2.10 Continuous Improvement

Tool-O may periodically review its payment and payout processes to improve security, reliability, operational efficiency and the overall User experience.

3.1 Payment Security

Tool-O seeks to protect payment transactions by using reputable third-party payment service providers and implementing reasonable administrative, technical and organisational security measures.

3.2 Authorisations

Where applicable, Tool-O or its payment providers may obtain payment authorisations, security deposit holds or other permitted payment approvals before confirming a Booking.

Authorisations are not necessarily immediate charges and may be released, adjusted or converted in accordance with the Terms of Use and applicable payment processes.

3.3 Delayed or Withheld Payouts

Tool-O may delay or withhold an Owner payout where reasonably necessary to:

• investigate suspected fraud;

• resolve a Claim;

• comply with applicable laws;

• complete identity verification;

• address payment disputes;

• protect the Platform or its Users.

3.4 Chargebacks and Payment Disputes

Where a payment is subject to a chargeback, reversal or payment dispute, Tool-O may:

• investigate the matter;

• request supporting information;

• delay payouts;

• recover amounts where permitted by law or agreement;

• take other reasonable action consistent with the Terms of Use.

3.5 Taxes

Users are responsible for determining and complying with their own taxation obligations arising from their use of the Platform.

Tool-O may collect, withhold or report taxes where required by applicable law.

3.6 Payment Records

Tool-O may retain payment and payout records where reasonably necessary to:

• comply with legal obligations;

• administer the Platform;

• investigate fraud;

• resolve disputes;

• support financial reporting.

3.7 Third-Party Providers

Payments, payouts and related financial services may depend upon third-party providers.

Tool-O is not responsible for delays, outages or processing issues caused by independent payment providers, banking institutions or financial networks beyond its reasonable control.

3.8 User Responsibilities

Users must:

• provide accurate payment information;

• maintain valid payment methods;

• promptly update expired payment details;

• not use stolen or unauthorised payment methods;

• comply with applicable financial laws.

3.9 Financial Reviews

Tool-O may periodically review payment processes, payout procedures and financial controls to strengthen security, improve operational efficiency and reduce fraud risks.

3.10 Responsible Financial Operations

Tool-O is committed to administering payments and payouts fairly, securely and transparently while supporting lawful transactions and protecting the interests of both Owners and Borrowers.

4.1 Governance

Tool-O is responsible for administering this Payment and Payout Policy and may maintain internal governance processes to support secure, reliable and transparent payment operations.

4.2 Compliance

Tool-O seeks to administer payment and payout processes in accordance with applicable laws relating to consumer protection, payments, taxation, financial crime, privacy and other relevant legal obligations.

Nothing in this Policy excludes, restricts or modifies any rights or obligations that cannot lawfully be excluded.

4.3 Policy Review

Tool-O may periodically review this Policy to reflect:

• legislative changes;

• payment industry developments;

• technological improvements;

• operational experience;

• regulatory guidance;

• evolving industry practices.

4.4 Operational Monitoring

Tool-O may periodically monitor payment and payout processes to identify:

• processing issues;

• fraud risks;

• payment failures;

• operational improvements;

• security enhancements;

• User experience improvements.

4.5 Third-Party Payment Providers

Tool-O may review its relationships with third-party payment providers from time to time to support reliable payment processing, Platform security and regulatory compliance.

4.6 Relationship with Other Policies

This Payment and Payout Policy should be read together with the:

• Terms of Use;

• Refund Policy;

• Claims Policy;

• Dispute Resolution Policy;

• Fraud Prevention Policy;

• Anti-Money Laundering and Sanctions Policy;

• Identity Verification Policy;

• Privacy Policy;

• all other Platform policies.

Where there is any inconsistency, the Terms of Use prevail to the extent permitted by applicable law.

4.7 Contact

Questions regarding this Payment and Payout Policy or payment-related matters may be directed to Tool-O using the contact details published on the Platform.

4.8 Policy Updates

Tool-O may amend this Payment and Payout Policy from time to time.

The latest version published on the Platform replaces all previous versions.

4.9 Commitment

Tool-O is committed to maintaining secure, transparent and efficient payment processes that support confidence in the Tool-O marketplace and protect the interests of both Owners and Borrowers.

4.10 Final Statement

Reliable payment processing is fundamental to a trusted marketplace.

Tool-O encourages all Users to complete transactions through the Platform, maintain accurate payment information and cooperate with reasonable payment verification measures that support a secure and dependable rental experience.

END OF PAYMENT AND PAYOUT POLICY