POLICY

Damage, Loss & Overdue

Version 2026-08-26-f1

This policy is written to match how VaultPro's systems actually operate today and is kept accurate as those systems change. It is pending a final review by VaultPro's business owner and Nigerian legal counsel before production launch — governing-law, dispute-resolution, and liability wording in particular.

You're responsible for equipment from the moment VaultPro confirms handover until it's confirmed returned and inspected. This policy explains overdue charges, damage, and loss — VaultPro does not include insurance or a damage-protection plan unless one is explicitly offered and accepted at checkout.

1. OVERDUE — GRACE PERIOD

A 10-hour grace period applies after your scheduled return time before a rental is treated as overdue. Return within that window and no overdue charge applies.

2. OVERDUE — HOW CHARGES ACCRUE

Once the grace period passes, VaultPro charges the applicable full daily rental rate for each 24-hour period, or part of one, that the equipment remains unreturned. A rental that's 2 hours into a new 24-hour cycle is charged for the full cycle, not a prorated fraction.

3. OVERDUE — THE CAP

Accumulating overdue charges never exceed the equipment's replacement value. Once overdue charges reach that value, they stop increasing — VaultPro instead pursues the equipment's return or treats it as lost, per the loss terms below.

4. INSPECTION ON RETURN

Every returned unit is inspected before your rental is marked complete. Inspection may find equipment returned in good order (nothing further owed), or find damage that opens a damage report.

5. DAMAGE LIABILITY

If equipment is returned damaged, VaultPro assesses the repair, replacement, or downtime cost and may bill you for the assessed amount, in line with VaultPro's approved policy for that assessment. Reasonable wear consistent with normal, careful use is not treated as damage.

6. PRE-EXISTING DAMAGE

Report any pre-existing damage or fault to VaultPro promptly at handover. Damage not reported at handover is assumed, absent evidence otherwise, to have occurred during your rental.

7. MISSING ACCESSORIES

Accessories that aren't returned with the main unit (cases, caps, cables, mounts, batteries, memory cards, etc.) are charged at their reasonable replacement cost.

8. LOSS OR THEFT

If equipment is lost, stolen, or not returned, you're liable for its replacement value. VaultPro will contact you as part of resolving an overdue or unreturned rental before treating it as a loss.

9. RENTAL COMPLETION IS NOT AUTOMATIC ON RETURN

Physically returning equipment does not, by itself, complete your rental. Completion can be held pending inspection, and is blocked while a damage report, missing-accessory charge, outstanding overdue charge, or other financial obligation tied to that rental remains unresolved.

10. HOW YOU'RE CHARGED

Overdue, damage, and missing-accessory amounts are currently assessed and recorded by VaultPro and settled directly with you — VaultPro does not currently charge these automatically to a stored card on file. See Automatic collection below.

11. AUTOMATIC COLLECTION (NOT YET AVAILABLE)

VaultPro does not automatically charge a stored payment method for overdue or damage amounts today. That capability — which would require stored-payment-method tokenization, explicit customer consent, and a defined retry/failure process — is planned for a future phase and is not active on the platform now.

12. DISPUTES

If you disagree with a damage assessment, contact VaultPro through the channel shown on this site — VaultPro will review the assessment with you before it's treated as final.

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