Assurance and disputes
Clear Assurance is a set of protections the co-op pays for when something goes wrong in your life. Disputes are for when a payment goes wrong. Both are below.
Your protections
Protections unlock with your equity credits, not with your membership plan. Every member is on the same ladder, and each step turns on when your credits reach it.
Nothing on this list is paid back, and there is no premium. The Savings page shows the ladder, which protections are on, and how many credits you need for the next one. How credits are earned is in Savings and equity credits.
The assurance reserve
The protections are paid from the assurance reserve, the co-op's shared safety fund. Your savings are never used to cover someone else's claim.
The reserve's figures and reports
Not available yet.
What anyone can read on chain
The co-op's reserve against members' credit is the AssurancePool, and anyone can read it on chain: its balances, and its reserve ratio against its target. How to read it is in Investors → What anyone can read, and what it holds and pays for is in Protocol → The reserve. The target, and who sets it, is in Governance → Parameters.
Making a claim
Tap any protection under Protections on Savings, then What the assurance reserve covers, then How to make a claim.
- 1.Choose the protection. You can only claim on one that is active. A protection you haven't unlocked can't be claimed on, even for something that happened after you joined.
- 2.Say what happened, in your own words — up to 2,000 characters.
- 3.Send the claim.
A person on the team reads every claim and decides it: yes, no, or what's missing. A claim that's paid goes into your cash account. A claim costs you nothing and doesn't touch your credits, whichever way it goes.
If you have no active protections yet, there is nothing to claim on. Cycle assurance is active from day one.
Disputes
Raise a dispute when a payment went wrong — a shop charged you the wrong amount, charged you twice, or you didn't get what you paid for. Start from Settings → Help → Dispute resolution → Raise a dispute, or from Something wrong on the transaction itself, which picks the payment for you.
Three kinds, and who decides
Clear stays out of disputes between two members, because a co-op judging between its own members is a conflict. The outcome binds both of you, and Clear.
For a card payment, you also pick a reason: charged twice, wrong amount, didn't get it, or something else. Filing asks for Face ID when payment protection is on.
While it's open
- The amount is held, not spent.
- You're not charged carry on it, and it isn't counted late in your cycle.
- Your equity credits are untouched.
For a payment to a partner, the plan behind it is unwound and the shop isn't paid while the dispute is open. For a member send that hasn't been claimed yet, it can't be claimed while it's disputed. A send that has already been claimed can't be held — the dispute page says so.
Settings → Help → Dispute resolution lists your disputes and where each one stands.
When it's decided
- In your favour — you don't owe it.
- Against you — the amount goes back into your cycle as new, with its carry and schedule starting from the decision. The time it spent in dispute costs you nothing.
Withdrawing a dispute
You can withdraw a dispute at any point before a decision. Tap Withdraw, then Confirm withdraw. The amount goes back into your cycle from that day, and you can't raise the same payment again.
Related
- Who runs the reserve and sets its policy: Governance