Depending on the project, iMerit may provide you with hardware such as a laptop or other device
Equipment Deposit & Return: How It Works
When a Scholar receives company-owned equipment (such as a laptop) to perform work on a project, we create a 'virtual' deposit—an amount withheld from the Scholar’s final payment until a device is returned. This deposit helps ensure the equipment is returned on time and in good condition. Once the equipment is returned, we promptly release the withheld amount.
Note: Scholars are never required to pay iMerit for equipment. If anyone asks you to pay upfront as a deposit for equipment, this is not a genuine iMerit project. Please view our page on Verifying iMerit Projects for more.
For projects where physical hardware is provided, a Scholar is required to sign an Asset Responsibility & Deposit Agreement confirming their understanding and acceptance of the deposit and return policy.
Why Do We Require an Equipment Deposit?
Security: The deposit protects our company from lost or stolen equipment.
Fairness: We want to make sure that no one is charged more than the actual fair market value (FMV) of the equipment if it is not returned.
Clarity: The policy sets clear expectations about returning the equipment in proper condition, so there are no surprises for either party.
How the Deposit Mechanism Works
1
Equipment Provision
When we provide you with equipment, we document the asset’s condition, serial number, and fair market value. We ask you to sign the Asset Responsibility & Deposit Agreement.
2
Withholding the Deposit
A portion of your final invoice amount—up to the fair market value of the asset—will be withheld as the “virtual deposit.”
You won’t receive that portion of your last invoice until you’ve returned the equipment in acceptable condition (normal wear and tear is permitted).
3
Returning the Equipment
When your engagement ends or the equipment is no longer needed, you’ll ship or otherwise return it to our company.
We inspect the equipment to confirm it has been returned in substantially the same condition as when it was issued.
4
Releasing your Virtual Deposit
If everything checks out (no major damage or missing parts), we release the withheld deposit right away with your final payment or shortly after.
If the equipment is missing, stolen, or significantly damaged, we may keep part or all of the deposit to cover any necessary repair or replacement costs, up to the Fair Market Value.
Frequently Asked Questions
1. Why is my deposit withheld from my final payment?
This policy protects the company and ensures the equipment is returned. By using your final payment as a deposit, we eliminate the need for a separate invoice or advance payment. As soon as we confirm the equipment’s return in good condition, we release the deposit.
2. How can I make sure I get my deposit back quickly?
Return on time: Send back the equipment by the agreed-upon deadline or immediately after your project ends.
Proper packaging: Use secure packaging (provided by us) to avoid shipping damage.
Notify us: Provide tracking information or a proof of shipment so we can confirm its arrival quickly.
3. What if the equipment is accidentally damaged?
If the damage is minor (normal wear and tear), it usually won’t affect your deposit. However, if the damage is substantial—like a cracked screen or hardware failure due to misuse—we will deduct repair costs from your deposit. You will receive notification of any deductions via email or a support ticket.
4. What if the equipment is lost or stolen?
Notify the local authorities as soon as possible and file a police report. Then contact us right away with any relevant documentation. If the equipment cannot be recovered, we may deduct the fair market value from your deposit. If that cost exceeds the deposit, you may be asked to cover additional expenses (according to your agreement).
5. How is fair market value (FMV) determined?
We base FMV on the replacement cost of a comparable model with similar specifications and condition. This value is documented and communicated to you before you receive the equipment.
6. What if I have more questions or issues?
For any further questions—such as shipping details, deadlines, or condition requirements—please contact our support team. We’re here to help make the return process as smooth as possible.
