1. PawnDirect is a trading style of Barwill Investments Ltd, which is authorised and permitted by the Financial Conduct Authority to carry out regulated activities FRN737472 is registered in England & Wales 6873314, whose registered address is Gadd House, Arcadia Avenue, Finchley, London N3 1TT . 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. 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. 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. Our provisional offer is not contractually binding.
5. Upon receiving your pledge, it will be compared to your original online description to confirm they match.
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. 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. Conditional loan offers are subject to contract, and are not legally binding until after we have physically inspected the pledged items, confirmed to you verbally or by email, phone or written letter and if necessary adjusted the loan offer and you have signed or electronically signed the fixed sum loan agreement/pawn receipt regulated under the Consumer Credit Act 1974 and Electronic Agreements Order 2004.
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, Credit Card or Bank Statement). Please post copies in your Special Delivery Packet or you can scan and email them to sales@PawnDirect.co.uk.
10. The maximum loan period is 7 months . All confirmed loan offers include APR details.
11. You have a right to withdraw from this agreement within 14 days without having to give any reason. The period of withdrawal begins from the latest of the day on which the agreement is made and the day on which the borrower receives a copy of the agreement or is notified of it’s execution where they have an identical unexecuted copy in accordance with section 61A (2) and (3) of the Consumer Credit Act 1974 and ends 14 days after that date. If you wish to exercise your right of withdrawal, you must notify the lender of your intention to do so, either in writing or orally using the contact details provided above. If you do withdraw, you are required to pay, without delay and no later than 30 calendar days after giving notice of withdrawal the interest accrued from the date the loan was provided to the date of repaying it. You must repay the loan and interest to us by delivering repayment in accordance with Condition 8 of the Loan Agreement and to the address at the head of the agreement.
12. You have the right to repay what you owe under this agreement early, either in full or in part. To do so you must give notice to the lender, orally or in writing, to the contact details given in the Loan Agreement, and make the payment within 28 days of the notice or on or before any later date specified in the notice. The loan is for a 7 month period but it can be repaid early in whole or in part in which case the amount repayable ( for early repayment in full ) or the amount outstanding ( for early repayment in part ) will be calculated in accordance with any rebate due under the Consumer Credit ( Early Settlement ) Regulations 2004. However, if the amount you repay early, in whole or in part, exceeds £8,000 in a single payment or a number of payments over a 12 month period , the lender may be entitled to compensation under section 95A of the Consumer Credit Act 1974 equal to the costs incurred provided that these are fair , objectively justified and do not exceed the total amount of interest you would have paid under the agreement from the date you make the payment to the date fixed under the agreement for discharge of the indebtedness.
13. 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.
14. 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.
15. 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.
16. 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
17. 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
18. You agree that we (PawnDirect) are not liable in any way if Royal Mail refuses any insurance claims in relation to Your Property.
19. 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.
20.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.
21. 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.
22. When in our pawn, your goods are secure and vaulted, but note that your goods will not be insured while they are in pawn.
23. 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.
24. 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.
25. 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.
26. 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.
27. 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.
28. 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 signed. The new renewal agreement will then start for 7 months from the new renewal agreement date.
29. 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.
30. 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.
31. The online service is operated within the standard office hours which are stated on the website.
32. 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 endeavour to respond to your email within 28 working days. Any disputes we are unable to settle within 8 weeks may be referred to the Financial Ombudsman . We will give details of that service if and when you are entitled to any such referral or otherwise at your request.