Terms and conditions for pledging
1. Cashier (UK) Ltd. is an established pawnbroker whose registered office is at 65 New Cavendish Street, London W1G 7LS ("us" "our" or "we"). Cashier (UK) Ltd is a limited liability company incorporated in England and Wales with registered number 06764161.
2. In these Terms and Conditions the word "you" means you as the borrower from us and "your item(s)" means the property that you wish to pledge to us as security for the loan we make to you.
3. You agree that all communications from us to you and any documents that we are obliged to or wish to send to you may be sent to you electronically at the email address given to us in your online application form.
4. Upon receipt of your online application and subject to receipt of your item(s) and our formal evaluation of them we will advise you of the amount we may be able to lend you, the period of the loan and the interest rate payable.
5. At the same time we will provide you with details of a pre-paid delivery service to enable you to send your item(s) to us for evaluation. By entering into this Agreement you authorise us to act for you in appointing on your behalf a shipping agent to deliver your item(s) to and from our premises for the purposes of further appraisal by our valuers and their eventual return to you and that we shall only be responsible for your items once they have been delivered to us and until we place them in the hands of the shipping agent to return to you.
6. We will deliver to you the basic packaging materials for your item(s) comprising a padded envelope and a Royal Mail Special Delivery tamperproof bag. It is your sole responsibility to ensure that your item(s) are securely and appropriately packaged. You agree that we shall not be responsible to you for any kind of damage to any item(s) which you have sent to us in any packaging other than that which we provide to you.
7. Our nominee to act as your shipping agent for your items is Royal Mail. The Royal Mail Special Delivery Service provides insurance cover for loss of or damage to your item(s) in transit up to a market replacement value of £2,500. If you believe that the market replacement value of your item(s) is more than £2,500, you acknowledge and agree that it is your sole responsibility to take out additional insurance to cover the excess between the sum of £2,500 and what you believe to be the market replacement value of your item(s). If you do not take out such additional insurance cover and you send such item(s) to us via the pre-paid Royal Mail Special Delivery Service without arranging any additional insurance cover you acknowledge and agree that you are doing this at your own risk and that you will have no claim upon us and/or the Royal Mail for any amount exceeding £2,500 in respect of any goods lost, damaged or devalued in any way in the course of the Royal Mail Special Delivery Service.
8. You agree to ensure that you obtain and retain a receipt for shipping from Royal Mail which you will need in order to establish any insurance claim against them. You also agree that you have and will retain a photograph(s) of your item(s) as well as one document relating to each item in order to prove your ownership as well as the current replacement value of your item(s). You agree that it is your responsibility to keep safe all documentation related to your property that may be useful in support of an insurance claim, including, but not limited to any purchase receipts, certificates, valuations, insurance documents and photographs. You agree that we shall have no liability to you if the Royal Mail refuse to accept any insurance claim made by you.
9. By delivering your item(s) to us you agree that we may evaluate the item(s) and test any precious metals e.g. gold. Any gold item hallmarked by the Assay Office will be identified by us, but if there are no hallmarks you agree that we may test your item(s) to recognised industry standards. You acknowledge and agree that the process of determining your items' value will involve placing certain acids on the gold or jewellery which can leave marks and staining.
10. Before we can make any loan to you it is necessary for us to verify your identify. You accordingly agree to provide us with a copy of photographic ID (e.g. your passport or photo driving licence) together with a proof of your current residential address by way of a copy of a utilities bill dated within the last three months. You may either send these to us within the Special Delivery tamperproof bag or alternatively you may send us your photographic ID and proof of address by fax to: 020 8985 9057 or you may scan and send the same by email to: firstname.lastname@example.org. Please do not send any original documentation to us.
11. When we receive your item(s) we will inspect the same having regard to your initial description and we will value it according to industry standards and the current market rates. If we determine that your original description is inaccurate in a way that makes your valuation unreasonably high you acknowledge and agree that we may decline to make an offer to you or make an offer which is higher or lower than our original estimate based on your valuation given to us. You agree that any offer we make to you is made subject to any change in the market value of your item(s) between the date that we make the offer to you and the date upon which we receive your electronically signed Loan Agreement together with your photographic ID and proof of address document so that we may formally identify you.
12. If we decline to make you a Loan offer we will, within 2 working days return your item(s) to you free of charge and fully insured up to the sum of GBP £2,500 by Royal Mail Special Delivery using the Royal Mail Special Delivery tamperproof bag.
13. We agree to ensure that our qualified valuers will formally appraise your item(s) within 2 working days and within that time we will thereafter immediately send you an email with our loan offer and your Loan Agreement the terms of which are regulated by the Consumer Credit Act 1974. The amount of the interest payable and the APR details in respect of your loan and interest will be stated on all loan offers made by us. If you agree to accept our offer of a loan you agree to sign and return to us electronically the Loan Agreement. Once you have electronically signed the Loan Agreement you will be legally bound by its terms. We agree that upon receipt of this we will transfer the cash amount of your loan direct into your bank account. This will be effected the same day if we receive your electronic signature before 17:30 hours. If you wish, and so notify us, we can provide you with postal orders, cheques or cash by Royal Mail Special Next Day Delivery. Once we have put in place the transfer of the Loan to you any purported cancellation of the Loan Agreement cannot be effective.
14. You agree that once you have accepted our loan offer by electronically signing the Loan Agreement we should pay the amount of our loan to you by bank to bank transfer into the bank account which you have notified to us in your online application for a loan and we shall not be responsible for any errors made by you in communicating the correct details of your bank account to us. 15. If you decide for any reason that you do not wish to accept our loan offer you must notify us of the same by email and we will return your item(s) to you free of charge and fully insured up to the sum of GBP £2,500 by Royal Mail Special Delivery using the Royal Mail Special Delivery tamperproof bag.
16. The maximum loan period available is seven (7) months and during that period interest will be applied to the amount of the loan on a Monthly Basis from the day you electronically sign the Loan Agreement until you redeem the Loan. For the purposes of this agreement a Monthly Basis means the period of one calendar month or any part of one calendar month commencing on the date we receive your signed electronic Loan Agreement from you.
17. You may at any time discharge the loan by notifying us by email at email@example.com upon receipt of which notification we will advise you within 2 working days of the amount of loan and accrued interest due, thereby providing you with a settlement figure. We will also provide you with details of our bank account into which your repayment must be made.
18. You agree to repay the loan and accrued interest by way of bank to bank transfer into our bank account and that until your repayment has been credited to our bank account you acknowledge and agree that we will not return your item(s) to you and we will not be responsible for any delay caused as a result.
19. We agree that we will send you a notification by email after the loan has continued for six months reminding you that the period within which you can redeem the loan will shortly end and reminding you of the relevant date by which the redemption of your item(s) must take place.
20. If you are not able to repay the loan and accrued interest within the seven month period you may apply to us for a renewal of the loan for an additional period.
21. If you do not redeem the pledge by the redemption date your item(s) will be sold by us in order that we may recover the capital loaned and the interest due. We agree that if there is a credit balance after we have deducted the capital loaned, interest and all costs and expenses involved in connection with the sale, we will return this balance to you by bank to bank transfer into your bank account.
22. If you need to make a complaint about our service or any aspect of it you should please email firstname.lastname@example.org with brief details of your complaint quoting your Reference Number. We will send you an acknowledgement of receipt of your complaint by email within 5 working days and then investigate your complaint and respond formally to it within 21 working days thereafter. If you are not satisfied with this response, you should contact the Managing Director at email@example.com who will respond to you by email with a final response within 28 working days thereafter. If you are not satisfied with the Managing Director's final response we will refer you to and give you details of the Financial Ombudsman Service with whom you may lodge a formal complaint.