CANCELLATION & REFUND POLICY

2. RENTER CANCELLATIONS

2.1 Before the Booking Start Time

If a Renter cancels before the booking start time:

• Renter receives 70% of the booking fee
• 30% is paid to the Host
• Parkanize deducts its 20% commission from the Host’s share
• The Platform Fee is not refunded

2.2 After the Booking Start Time

• No cancellations are allowed
• No refunds are issued
• The booking remains active
• The Renter must remove the vehicle at the end time

3. HOST CANCELLATIONS

• Hosts cannot cancel an active booking under any circumstances.
• Hosts may request Parkanize to cancel a booking before it starts only if fraud is suspected, a security issue exists, or access is physically impossible due to building actions.

3.3 If a Host Cancels Before the Booking Start Time

• Renter receives a 100% refund excluding Platform Fee
• Host receives zero payout

Repeated Host-initiated cancellations may result in account suspension.

4. ACCESS CREDENTIAL DEPOSIT (AED 100)

The Access Fee is refunded only when:

• The Renter returns the access credential in good working condition
• The Host confirms its return within 48 hours
• No loss or damage is reported

5. KYC FAILURE

If a Renter’s KYC fails after booking:

• The booking is cancelled
• Renter receives a refund excluding Platform Fee
• Host receives no payout

6. BOOKING MODIFICATIONS

Booking modifications are not supported. A Renter must cancel, if eligible, and create a new booking.

7. REFUND TIMELINE

Refunds are processed within:

8. NO-SHOWS

If the Renter does not use the parking space:

• No refund is issued
• The booking remains valid
• Renter must remove the vehicle at the end of booking

9. PAYMENT DISPUTES & CHARGEBACKS

If a chargeback is initiated:

• The User’s account is immediately suspended
• All related bookings are frozen
• Parkanize may hold documents and evidence as required
• Host payouts related to the booking are frozen until the dispute is resolved

10. LONG-TERM BOOKINGS (QUARTERLY & YEARLY)

10.1

Renters pay the full amount upfront, but Hosts are not paid upfront for the full term.

10.2

Parkanize releases Host payouts monthly, 14 days after the end of each rental month.

10.3

Each rental month within a Quarterly or Yearly booking is treated as a separate service period.

10.4

If a renter reports issues such as:

• Lack of access
• Non-functioning credentials
• Unavailability of the space
• Misrepresentation by the Host

Parkanize may:

• Withhold that month’s payout
• Reduce that payout
• Redirect withheld amounts to the Renter as compensation
• Penalize or suspend the Host

10.5

11. HOST PAYOUT STRUCTURE

• Host payouts for Weekly, Monthly, Quarterly, and Yearly bookings are issued monthly.
• Payouts are released 14 days after the end of each rental month.
• Parkanize does not pay Hosts in advance for any future month of a booking.
• Payouts may be withheld or reduced if service standards are not met.
• Payouts are processed via Stripe to the Host’s designated bank account.