Trust Stats

Introduction

Freelender has a system of trust stats which is intended to encourage people to be good freelenders, rather than as a means of identifying "bad" freelenders. This system allows members to have more confidence in who they are dealing with, though members are reminded that they must take ultimate responsibility for their decisions on whether to lend to somebody.

To allow transparency, the methods used for determining these stats are given below.
Please contact us if you have any comments or queries on the trust stats.

Each member of Freelender is given 2 separate sets of trust stats:

  • borrower trust stats
  • lender trust stats

Borrower Trust Stats

A member is given borrower trust stats once they have borrowed 4 or more items.
The Satisfaction level is determined using feedback given by each lender that the borrower has borrowed from. These lenders identify their level of satisfaction with each interaction.

The possible satisfaction levels are as follows, with the corresponding points awarded shown in brackets:

  • highly satisfied (100)
  • satisfied (70)
  • dissatisfied (30)
  • highly dissatisfied (0)

Note that a lender could be highly satisfied with an interaction even if their item was not returned. This could happen if the lender accidentally lost the item, but compensated the lender financially by the amount that the item was worth to the lender.

The borrower rating is then calculated as a percentage by:

  1. summing the points from all items borrowed
  2. dividing by the number of items borrowed
  3. rounding to the nearest whole number

When giving feedback, a lender can also write a textual comment which other potential lenders may read.

An example of borrower trust stats
Satisfaction Number of items Total value
Items previously borrowed 100% 200 £ 3800
Items borrowing now n/a 20 £ 200
Items currently overdue n/a 3 £ 11
Requests made n/a 2 £ 10

Lender Trust Stats

A member is given lender trust stats once they have lent 4 or more items.
The Satisfaction level is determined from feedback given by each borrower in the same way as for borrower trust stats (see above).

Things a borrower could take into account when rating a lender are whether the lender was in when they said they would be, did they respond to the request in a reasonable time, etc.
When giving feedback, a borrower can also write a textual comment which other potential borrowers may read.

An example of lender trust stats
Satisfaction Number of items Total value
Items previously lent 95% 200 £ 3800
Items lending now n/a 20 £ 200
Requests received n/a 2 £ 10