In consideration of the Waiver Fee you have paid, the Host agrees to waive your financial liability — and Waivy, acting on the Host's behalf, will administer and pay out approved claims from the funds collected — for the following types of damage caused by you or members of your party during your stay:
Coverage applies from the moment you check in until the moment you check out, for the specific booking for which this Waiver was purchased.
This Waiver covers eligible accidental damage above a minimum threshold and up to the maximum coverage limit selected by the Property Manager for your specific booking:
| Region | Minimum threshold (deductible) | Coverage range |
|---|---|---|
| European Union | EUR 25 | EUR 200 – EUR 1,000 per stay |
The exact coverage limit for your booking is determined by the Property Manager at the time of property enrollment and is displayed on the checkout page at the time of payment. Waivy will reimburse the property manager the lesser of the cost of repair or replacement of any eligible damaged item, assessed at current market value. The minimum threshold (EUR 25) of each approved claim is borne by the Host/Property Manager. This Waiver does not affect your responsibility for damage or loss that falls outside the coverage described in this Agreement.
The following are expressly excluded from this Waiver:
You remain fully responsible for any damage or loss that exceeds the maximum coverage limit or falls within any of the exclusions listed in Section 3. In such cases, Waivy or the property manager may seek to recover the outstanding amount from you directly, including by charging your payment card as described in Section 5.
This includes:
This authorisation remains valid for a period of 30 days following your check-out date. Before any such charge is made, you will receive written notification by email, accompanied by photographic evidence and cost documentation supporting the amount claimed.
Waivy will retain your payment card details securely and solely for this purpose, in accordance with applicable data protection law and PCI DSS standards. Your card details will not be used for any other purpose.
The Waiver Fee is set by the Host and charged to you at the time of booking. Waivy collects this payment from you in its capacity as the Host's disclosed agent: the funds are received by Waivy on the Host's behalf, not as principal. From each Waiver Fee, Waivy retains a platform service fee for administering the Waiver, processing claims, and operating the platform; the remainder is remitted to the Host via Stripe Connect, in accordance with the Host's payout schedule.
The commercial relationship for the Waiver is between you and the Host. Waivy is not the seller of the Waiver and accepts no liability beyond its role as intermediary, payment facilitator, and claims administrator acting on the Host's behalf.
The Waiver Fee is non-refundable once your booking has commenced. If your booking is cancelled before check-in, the Waiver Fee will be refunded in accordance with the cancellation policy agreed with the Host at the time of booking.
If damage occurs during your stay, the process is straightforward:
Waivy offers two alternative damage-protection products. Your property manager has chosen which one applies to your booking:
This Section applies only when your property manager has selected the Security Deposit product instead of the Damage Waiver. The terms below replace Sections 1–7 for that booking.
At the time of booking confirmation, you authorise Waivy to charge your payment card for the Total Amount, comprising:
The full Total Amount is charged immediately. No part of the Total Amount is held as a pre-authorisation; it is debited from your card at the time of payment.
Your property manager has 48 hours from your check-out to report damage caused during your stay (the "Claim Window"). If no damage is reported within that window, the full Deposit Amount is refunded automatically to the original payment card. Refunds typically appear on your statement within 5–10 business days.
If your property manager reports damage within the Claim Window, the property manager must submit photographs of the damaged item, a written description, and a repair quote or proforma invoice. The handling is as follows:
The Service Fee is non-refundable in all circumstances, including where the Deposit Amount is refunded in full. The Service Fee covers the administrative cost of processing the deposit, the refund, and any damage claim.
If the cost of damage exceeds the Deposit Amount, the property manager may pursue the difference directly under the rental agreement between you and the property manager. Waivy is not a party to that agreement and is not responsible for amounts exceeding the Deposit Amount.
Automatic refunds are issued within 7 business days after the close of the Claim Window. Bank processing times are outside Waivy's control and may add an additional 5–10 business days before the refund appears on your statement.
Waivy processes your personal data, including payment card information, in accordance with applicable data protection law. Your data will be used solely for the purpose of administering this Waiver, processing Claims, and where applicable, recovering amounts owed in excess of the coverage limit. Please refer to Waivy's Privacy Policy at waivy.eu/privacy for full details.
These Terms are governed by and construed in accordance with the laws of Malta. Any dispute arising in connection with these Terms shall be subject to the exclusive jurisdiction of the Maltese courts.
For any questions regarding this Waiver, please contact Waivy at [email protected] or visit waivy.eu.
In this Agreement, the following terms shall have the meanings set out below:
By completing the Waivy registration process, the Property Manager confirms acceptance of this Agreement in full. This Agreement constitutes a legally binding contract between the Property Manager and Vela Blu Ltd (C91535).
The Property Manager shall enroll each Property individually on the Waivy platform. Waivy reserves the right to refuse enrollment of any Property at its sole discretion, without obligation to provide reasons.
The Waiver is available for short-term rental Bookings only. Long-term leases, owner stays, and complimentary stays are not eligible. The Waiver applies exclusively to Bookings made through channels other than Airbnb, as Airbnb provides its own AirCover protection.
The Waiver is a contractual damage waiver product offered by the Property Manager to its Guests, with claim payout obligations backed by an authorised and regulated EU insurance provider. Waivy operates as a disclosed agent and payment facilitator acting on the Property Manager's behalf, providing the structured mechanism to present the Waiver to Guests, collect the Waiver Fee, and administer Claims in lieu of a traditional security deposit.
The Property Manager acknowledges and agrees that:
Waivy's Base Rate per Booking is set by Waivy and depends on the coverage level selected for each Property. The Base Rate currently in force for each coverage level is published in the Property Manager's Waivy dashboard and is the rate used to compute the Waiver Fee at the moment a Booking is made.
Waivy reserves the right to amend the Base Rate at any time, at its sole discretion. Where reasonably practicable, Waivy will give the Property Manager prior notice of any change via email or through the dashboard. Any new Base Rate applies to Bookings made on or after its effective date and does not affect Bookings already in progress. Continued use of the platform after the effective date constitutes acceptance of the revised Base Rate.
The Base Rate is the amount retained by Waivy from each Booking, is not subject to negotiation, and is exclusive of payment processing fees, which are deducted before allocation.
The Property Manager may add a markup to the Base Rate when charging the Waiver Fee to Guests, subject to the maximum permitted by Waivy from time to time and shown in the Property Manager's dashboard. The PM Markup represents the Property Manager's commercial margin and is paid out by Waivy in accordance with Section 4.3. Waivy accepts no liability for the Property Manager's pricing decisions within the permitted range.
Waivy collects the Waiver Fee directly from the Guest at the time of booking, acting as the Property Manager's disclosed agent through the Waivy-operated checkout. The Guest is informed in the Guest Damage Waiver Agreement that Waivy receives the payment on the Property Manager's behalf and not as principal. Funds are received by Waivy into a Stripe-controlled account established for this purpose; Waivy retains the Base Rate (which includes the Waivy platform fee and Risk Reserve allocation) and the corresponding payment processing costs, and remits the remaining PM Markup to the Property Manager.
Payouts of the PM Markup are made to the Property Manager through Stripe Connect, into the connected Stripe account registered by the Property Manager during onboarding. Waivy will calculate and release the PM Markup on a monthly basis, within 15 (fifteen) business days following the end of each calendar month, in respect of all Bookings completed in that month.
The Property Manager is responsible for maintaining a valid Stripe Connect account in good standing and for keeping its bank and tax details accurate within Stripe. Payouts withheld by Stripe due to incomplete verification or compliance issues are outside Waivy's control. Payout currency will be EUR.
The Property Manager hereby authorises Waivy to issue self-billed statements on the Property Manager's behalf in connection with each monthly Payout. These self-billed statements shall constitute valid commercial documents for accounting purposes and will be made available to the Property Manager via the Waivy dashboard each month. The Property Manager agrees not to issue separate invoices to Waivy for amounts covered by self-billed statements.
For EU-based Property Managers registered for VAT, the self-billed statement will include the applicable VAT treatment in accordance with the reverse charge mechanism where applicable. The Property Manager is responsible for ensuring that their VAT registration details held on the Waivy platform are accurate and up to date.
Waivy reserves the right to withhold or set off against any Payout any amounts owed by the Property Manager to Waivy, including in connection with disputed Claims or amounts paid in error.
No Payout will be made in respect of Bookings that are cancelled before check-in, Bookings that do not comply with this Agreement, or Bookings for which the Waiver Fee was not properly collected from the Guest.
Subject to the exclusions in Section 5.3 and the conditions in Section 6, Waivy will reimburse the Property Manager for direct, physical Property Damage caused by a Guest during a Booking, including:
Coverage is determined by the level selected by the Property Manager at enrollment, ranging from EUR 200 to EUR 1,000 in increments of EUR 50. A host deductible of EUR 25 applies to every Claim.
| Coverage Level (EUR) | Host Deductible (EUR) | Maximum Reimbursement (EUR) |
|---|---|---|
| 200 | 25 | 175 |
| 500 | 25 | 475 |
| 1,000 | 25 | 975 |
Waivy shall reimburse the lesser of the cost of repair or the cost of replacement of the damaged item, assessed at current market value. The host deductible (first EUR 25 of each Claim) is borne by the Property Manager and is not reimbursable by Waivy.
The following are expressly excluded from Waivy coverage:
Only the Property Manager may submit a Claim to Waivy. Guests may not submit Claims directly. Waivy will not correspond with Guests regarding covered Claims.
The Property Manager must report any Property Damage to Waivy within 48 (forty-eight) hours of the Guest's check-out date and before any subsequent Guest checks in to the same Property. Claims submitted after this window will not be accepted.
To submit a valid Claim, the Property Manager must provide:
Waivy has sole authority to determine whether Property Damage is eligible for reimbursement, the nature and extent of the damage, and the appropriate reimbursement amount. Waivy shall provide a decision within 48 hours of receiving a complete and properly documented Claim.
Approved Claim reimbursements will be paid to the Property Manager within 5 (five) business days of Claim approval, by bank transfer to the account registered on the Waivy platform.
Where Property Damage exceeds the maximum coverage limit, the Property Manager retains the right to pursue the Guest for the excess amount. Waivy may assist with guest recovery using the Guest's payment card data held in connection with the Waiver Fee transaction, as authorised by the Guest under the Guest Waiver Agreement. The Property Manager shall not pursue the Guest for amounts already reimbursed by Waivy.
The Property Manager agrees to:
This Agreement commences on the date of the Property Manager's registration and continues indefinitely until terminated in accordance with this Section.
Either party may terminate this Agreement by providing 30 days' written notice by email to the address registered on the respective account.
Waivy may terminate this Agreement immediately, without notice, in the event of:
Upon termination, Bookings already in progress at the date of termination shall remain covered until the Guest's check-out date. No new Bookings shall be eligible for coverage following the effective date of termination. Any outstanding Payout due to the Property Manager at the date of termination will be settled in the final monthly reconciliation.
To the maximum extent permitted by applicable law, Waivy's total liability to the Property Manager under or in connection with this Agreement shall not exceed the total Base Rates paid by the Property Manager to Waivy in the 3 (three) months preceding the event giving rise to the claim.
Waivy shall not be liable for any indirect, consequential, special, or punitive loss, including loss of profit, loss of revenue, or loss of anticipated savings, whether arising in contract, tort, or otherwise.
Each party shall comply with applicable data protection laws in connection with the performance of this Agreement. Waivy will process personal data of Guests solely for the purpose of administering the Waiver, processing Claims, and where applicable, recovering amounts from Guests in excess of the coverage limit. Waivy's Privacy Policy is available at waivy.eu/privacy.
This Agreement and any dispute or claim arising out of or in connection with it shall be governed by and construed in accordance with the laws of Malta. The parties submit to the exclusive jurisdiction of the Maltese courts, save that Waivy reserves the right to seek injunctive or equitable relief in any jurisdiction.
In the event of a dispute, the parties agree to attempt resolution through good faith negotiation before commencing formal proceedings.
This Agreement constitutes the entire agreement between the parties with respect to its subject matter and supersedes all prior representations, agreements, or understandings.
Waivy reserves the right to amend this Agreement at any time. Property Managers will be notified of material changes by email at least 30 days in advance. Continued use of the platform after the effective date of any amendment constitutes acceptance.
If any provision of this Agreement is found to be unenforceable, the remaining provisions shall continue in full force and effect.
Failure by either party to enforce any provision of this Agreement shall not constitute a waiver of that provision.
The Property Manager may not assign this Agreement without Waivy's prior written consent. Waivy may assign this Agreement to any affiliate or successor entity without consent.