Damage Deposits
Each property can set a Damage Deposit in PLAYA based on a majority vote of owners of the property. For guests who have used a UTOKEN to secure a night:
on the day of arrival, an amount (in UTOKEN) will be debited from the Guest’s wallet;
the debited amount will be held in escrow;
on the day of checkout, and where no damage occurred during the stay, the UTOKEN will be refunded to the guest; and
if damage occurred during stay, the UTOKEN will be used to compensate the property for the damage up to the amount of damage. Extra UTOKEN will be refunded.
UTOKEN received to the property for damage will be allocated pro rata to Owners.
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