If the Boat Owner requests a refundable security deposit to be managed by Sailo, then we will place a hold on the Renter’s credit card to cover any incidentals 3 days before the trip
or at the time of booking, whichever comes last.
Important: while most banks will show the hold correctly as “pending” on the statement, some banks may show it as a “charge”. That is incorrect, as Sailo’s system does not charge a security deposit, only places a hold on it. If there are any concerns, please contact the bank. The Renter can see the details of the status of the security deposit on the booking details page in his/her Sailo account under “My Trips” section. If funds released to the Renter’s account are not showing up in the bank records, we advise the Renter to contact the bank directly.
In both cases, the funds will be released 48 hrs after the trip if there are no incidentals. In the case a claim is filed, the credit card hold for the security deposit will be charged and retained until the claim is resolved.
If the Boat Owner requests a refundable security deposit to be paid at base, the Renter has to pay the amount on the day of the trip, directly to the Boat Owner, before embarking on the boat. In this case, we recommend for the Renter to discuss the details of the type of payment with the Boat Owner (cash, credit card, etc) beforehand, in order to avoid any issues on the day of the trip.
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