Terms and Condition

The pawner agrees to pawnshop terms and conditions.

Loan is renewable if the customers agree to pay the interest and partial amount on or before the maturity date. In case this is not renewed on maturity date, the customer hereby agrees to pay in addition to accrued interest, 2% per month of the principal, as liquidated damages.

For the purpose of computing the amount of interest for pledge loan paid after maturity date, a fraction of the original term of the loan agreed upon as indicated at the face of the pawn tickets shall be considered as on full month.

Upon maturity of this loan, as indicated on this face of this ticket, the customer has still 7 days from maturity date within which to redeem the pawn by paying the principal loan plus interest.

The pawnshop shall not send a written reminder to the customer before the expiration of the 7 days grace period, that the pawn shall be sold or disposed of in the event the customer fails to redeem or renew the pawn within the 7 days grace period.

This official receipt shall be surrendered at maturity date upon payment of the loan. In case of loss or destruction of this receipt, the pawner must present an affidavit of loss to the pawnshop before the maturity date. The pawnshop has 2 days to decide whether to accept (1) the affidavit in place of the original pawn ticket, thereby cancelling the original.

The pawnshop shall not be reliable for loss or damage of the pawn due to fire, robbery and other fortuitous events.

The pawner declares under the penalty of the Anti-Fencing Law that he/she is the owner of the property subjected to this contract.