TERMS & CONDITIONS

Pawning and purchasing goods

General Terms
    1. Definitions: “Pawnbroking” means the business of lending money on the security of movable goods.
    2. Purpose: The pawn shop provides short-term loans secured by movable goods.

Pawn Transaction Terms
    1. Pawn Agreement: A written agreement outlining loan terms, interest rates, and repayment conditions.
    2. Security: The customer pledges movable goods as security for the loan.
    3. Loan Amount: Determined by the pawn shop, based on the current value of the pledged goods as used goods.
    4. Interest Rates: calculated daily.
    5. Default: Failure to repay the loan results in the pawnshop selling the pledged good.

Customer Obligations
    1. Provide identification and proof of ownership.
    2. Disclose all relevant information about the pledged goods.
    3. Repay the loan within the agreed term of 30 days plus 1 grace day.

Pawn Shop Obligations
    1. Provide clear disclosure of loan terms and conditions.
    2. Keep pledged goods secure and insured.
    3. Return pledged goods upon full repayment.

Purchased Goods

The sales consultant should test the products before closing off the sale.