Renndaar

ABOUT US

Renndaar is a service marketplace where service seeker known as “Seeker” gets connected with service providers know as “Givers”, and are binded by a smart legal contract, and an Escrow that holds funds paid by Seekers in contract, which are only made available to the Giver when the terms of the contract are fulfilled.

The key features of our product are:

REAL-TIME MAP
The location feature, which makes use of real-time geodata from Givers, enables Seekers to search for and get localised services easily and conveniently. This unique feature also enables Seekers to search for and filter out Givers close by or far away using distances in kilometres from their actual location.


CONTRACTS
Our tri-party agreement between Renndaar, Seekers, and Givers makes Givers more diligent, responsible, and efficient with their services rendered. Also, it gives a sense of confidence and assurance to the Seekers.


MESSAGING
Our in-app messaging feature allows Seekers and Givers to communicate securely, as well as having the assurance that such messages are backed up so they can be recovered as proofs even when deleted for dispute resolution when needed.


PAYMENT AND ESCROW
Wallet, funding, and withdrawal
On signup, users get two accounts simultaneously: a Giver and a Seeker account, with each having an independent wallet system. Only the Seeker account can fund and withdraw, while the Giver account can only perform withdrawals. The only means of funding a wallet is by bank transfer,

For withdrawals, a Seeker or Giver is mandated to verify their BVN information before adding a bank account, which must match their exact account details.



Escrow
This holds funds paid by seekers in a contract. These funds are only paid to the givers when the contract terms have been met.


Payment dispute
This is a disagreement between a Giver and a Seeker that arises when a payment request sent by a Giver to a Seeker is rejected or left unattended to within 24 hours of receiving the payment request. This dispute can be either manual or automatic.


CONTRACTS AND SERVICES
Services
A Giver can list an unlimited number of services on Renndaar. In service creation, the following are important: price for the service, duration of the service listed, down payment, final payment, or milestone payment, depending on whether it is broken into deliverables.

Extension
Renndaar allows for the extension of a contract duration when a Giver feels they need more time to completely meet the terms of the contract, as this can be for a variety of reasons. This is possible only when a Seeker accepts the extension request sent by a Giver.

Pausing a contract
To help protect both the Seeker and the Giver, an active contract can be paused in certain situations, but the Seeker has to approve the request sent by the Giver, and it cant be more than 7 days per contract.

Demurrage
This is a fee charged on the Givers Main Escrow Balance when a contract is terminated by Renndaar due to non-compliance from a Seeker failing to accept an extension or raise a dispute and a Giver failing to request an extension before the 24-hour countdown to request an extension elapse.


DISPUTE
This enables easy resolution of contract terms in disagreement between a Seeker and a Giver in contract. It's also a clickable icon that terminates a contract.


SUPPORT
When you need help using Renndaar or have issues while using Renndaar, you can use Get Support on our platform to get assistance automatically from our dedicated support officers.

The Get in Touch icon and the Chat Support icon can both be found at the top right and bottom right of our official page, https://renndaar.com/.
Also, you can request assistance by sending an email to hello@renndaar.com or by connecting with us on X and Instagram via @renndaar.