It is a set of good practice principles to set out minimum standards for sharing economy businesses to ensure that they act with integrity and maintain professional standards.

In meeting these principles, businesses will be awarded with the TrustSeal to display on their own digital properties.

The TrustSeal therefore underpins the principles in order to convey a sense of trust and good standing in the market, and with both providers and consumers of services.

The performance criteria, outlined by world-class business and sharing economy experts are assessed over 6 broad principles of good practice including:

Identity and Credential Verification

Transparent Communications and Pricing

Participant Help and Support

Security and Data Protection

Insurance and Guarantees

Peer Reviews

The TrustSeal was established by Sharing Economy UK in partnership with Oxford University SAID business school – who developed the research into what consumers and companies thought would be valuable from a trust seal.

PricewaterhouseCoopers also helped inform the design of the TrustSeal.

Find out more about the TrustSeal here.