Terms and Conditions

Pawnbroking

1. 1. PawnDirect is a trading style of Barwill Investments Ltd whose Credit Licence No: 627489 enables us to trade under the various brands we promote, Barwill Investments Ltd is registered in England & Wales 6873314, whose registered address is 13 Station Road, Finchley, London, N3 2SB . Within these terms and conditions the word “you” “your property” represents the borrower and the words “we, our, us” represents PawnDirect as the lender.
2. 2. These Terms and Conditions shall be governed by the Laws of England and Wales and are the basis for the establishment of relations between “you” and “us”.
3. 3. Our provisional offer is based on your original pledge description, on the assumption that the description provided is completely accurate, we value the pledge in good faith as falls within prevailing market rates and according to accepted industry standards.
4. 4. Our provisional offer is not contractually binding.
5. 5. Upon receiving your pledge, it will be compared to your original online description to confirm they match.
6. 6. By sending us your property you agree to us testing the jewellery. If your gold is hallmarked by the assay office your gold is identified. If there are no hallmarks, your gold will be tested to recognised industry standards and you accept that the process of determining a value involves placing certain acids on the gold or jewellery which can leave marks and staining.
7. 7. If we find a variation in your original online description which affects the valuation of the pledge, we reserve the right to adjust the loan offer either upwards or downwards, depending on our valuation compared with your original description.
8. 8. Conditional loan offers are subject to contract, and are not legally binding until after we have physically inspected the pledged items, confirmed to you by email, phone or written letter and if necessary adjusted the loan offer and you have electronically signed the fixed sum loan agreement/pawn receipt regulated under the Consumer Credit Act 1974 and Electronic Agreements Order 2004. Under distance marketing regulations you have 14 days to cancel this agreement starting the day after the date of signing your agreement. See details on your Fixed - Sum Loan Agreement and pawn receipt, under cancellation rights. If you cancel this agreement we will return any property to you forthwith, and repay any money you have paid us. You must repay any money we have paid to you as soon as possible, and in any event not later than 30 days after you cancel the contract. If we have, at your request, provided credit to you prior to the expiry of the cancellation period then we may make a charge to you for providing this service . This charge will equate to the amount of interest that we would have charged you under the terms of the contract for the period from the beginning of the contract up until you return our money to us.
9. 9. We will need to identify you, we only need copies NO ORIGINALS TO BE SENT, you will need to provide 1 proof of photo i.d. For example (Passport, Photo Driving Licence, or National Id Card). Also 1 proof of home address dated within the last 3 months for example ( Any Utilities Bill: Gas, Electricity, Council Tax; Store Card Bank Statement or Credit Card Statement). Please post copies in your Special Delivery Packet or you can scan and email them to sales@PawnDirect.co.uk, or fax the documents to fax number 0208 369 5900 .
10. 10. The maximum loan period is 7 months, you may settle the loan at any time before the 7 month term and interest will be calculated and applied to give you a settlement figure. Interest is calculated and applied monthly to the loan on the day of signing the agreement at the beginning of each contract month and if you redeem your pledge early, interest will be charged to the end of the contract month period in which you redeem. A contract month means the period of a month commencing on the date of a signed electronic loan agreement. All confirmed loan offers include APR details.
11. 11. You warrant and represent that you have good and marketable title to your property, free of all encumbrances of any kind, and you are not under the age of 18 years.
12. 12. We can arrange for shipping the item of your own property that you wish to use as security for your loan (your property). By choosing PawnDirect pre-paid shipping service, you are authorising us to act for you in appointing on your behalf a shipping agent to ship your property to and from our premises for the purposes of further appraisal by our valuers in accordance with our terms and conditions.
13. 13. PawnDirect can provide basic packaging for your items which comprise an insert envelope and Royal Mail Special Delivery tamper proof bag. It is your responsibility to ensure that your items are securely and appropriately packaged, including the use of additional and/or item specific packaging. PawnDirect cannot be held responsible for damage to items sent in inappropriate packaging.
14. 14. Our nominee to act as your shipping agent for your property is Royal Mail. The Royal Mail Special Delivery Service provides insurance cover for loss or damage to Your Property in transit, up to a market replacement value of £2,500.00. If you think the market replacement value of your goods is more than £2,500.00, it is your sole responsibility to take out additional insurance for that part of the market replacement value which exceeds £2,500.00. If you choose to despatch goods of a replacement value exceeding £2,500.00 via the Royal Mail Special Delivery Service without arranging any additional insurance cover, you agree that you are doing so at your own risk, and that you will have no claim on us and/or the Royal mail for any amount exceeding £2,500.00 of the replacement value of any goods lost, damaged or devalued in any way in the course of The Royal Mail Special Delivery Service. See www.royalmail.com/ special delivery page
15. 15. You must ensure that you can produce photograph(s) of your property as well as at least one document per item which will prove ownership and the current replacement value of your property. Please be aware it is your responsibility to keep safe all documentation relating to your property that would be useful in support of an insurance claim, including, but not limited to any purchase receipts, shipping receipts, certificates, valuations, insurance documents or photos. Special Note, Royal Mail needs to ensure that unwarranted claims are not made and as such it retains the right to request further information from the claimant and to refuse claims that it suspects are unwarranted
16. 16. You agree that we (PawnDirect) are not liable in any way if Royal Mail refuses any insurance claims in relation to Your Property.
17. 17. While we will provide you with information that we have to help you in any dispute or claim that you may have with your shipping agent, we cannot be held liable for any failure in the shipping agents performance or of its obligations to you. Under the Data Protection act we will not have access to your claim against the shipping agent and we cannot act on your behalf in any part of the claim or dispute with the shipping agent.
18. 18.It is your responsibility to obtain and retain the receipt for proof of postage and unique tracking number from the Post Office when sending your items to us, see www.royalmail.co.uk / special delivery page.
19. 19. The receipt will form part of your insurance claim should your items go astray, we cannot be held in any way liable for the loss of items sent to us that do not arrive. Your claim will be with the Post Office Royal Mail Special Delivery Service.
20. 20. When in our pawn, your goods are secure and vaulted, but note that your goods will not be insured while they are in pawn.
21. 21. This document, the shipping terms and any credit agreement are in the English language. We undertake to communicate with you in English during the duration of the loan application process and any loan you enter into. The information contained in this Pre-contract disclosure is only valid in respect of the proposed loan application and during the term of any ensuing loan.
22. 22. If any part of these Terms and Conditions that are not fundamental are found to be illegal or unenforceable, such finding will not affect the validity or enforceability of the remainder of these Terms and Conditions.
23. 23. On shipping your item(s) back to you should any insurance claim arise because of any loss or damage suffered in the shipping of items to you, the replacement value(s) claimed will be according to our valuation of the item(s) as described in clause 7, whether we withdraw a loan offer after receipt and inspection of your item(s) or not, and whether you accept any loan or not.
24. 24. Should there be any variance between the replacement value of the item(s) as judged by you prior to shipment to us, and our assessment of the replacement value of the item(s) after inspection by us on receipt, you will be informed of our valuation as soon as is reasonably possible after receipt.
25. 25. To redeem a pledge, you are obliged to pay off all outstanding amounts, including the loan and all the interest charges due up to the date of redemption.
26. 26. Before the maximum loan period has expired, you may request a renewal of your agreement, you will need to pay up any interest that is outstanding and only then will we issue you with a new renewal agreement which will need to be electronically signed. The new renewal agreement will then start for 7 months from the new renewal agreement date.
27. 27. Should you not redeem your pledge within the 7 month loan period, you will be informed in writing of our intention to sell the item(s) in order to recover any losses relating to the loan agreement.
28. 28. On selling the goods, we will deduct the cost of the outstanding loan, interest, and any other sales expenses arising from the proceeds of the sale. Any surplus amount will be returned to you.
29. 29. The online service is operated within the standard office hours which are stated on the website.
30. 30. If you want to make a complaint about any aspect of the service provided to you, please email info@PawnDirect.co.uk with your account number and complaint. Our Customer Care Team will respond to your email within 1 working day. Any disputes we are unable to settle within 8 weeks may be referred to the Financial Services Ombudsman. We will give details of that service if and when you are entitled to any such referral or otherwise at your request.