SUMMARY OF RIGHTS AND OBLIGATIONS RELATING TO PAWNED GOODS (As relevant to the Secondhand Dealers and Pawnbrokers Act. 2004)

• You ("the Pledger") must produce this pledge ticket to the pawnbroker to redeem the pawned goods.
  
  
• The goods must be held by the pawnbroker for 3 months (unless you and the pawnbroker agreed on a later date). This is called the "redemption date".
  
  
• The pawnbroker must not dispose of pawned goods on or before the redemption date, unless the Pledger redeems them before that date.
  
  
• The goods may be redeemed at any time on payment of the redemption price.
  
  
• The pawnbroker is entitled, in the absence of proof to the contrary, to assume the holder of a pledge ticket is in fact the Pledger of the goods identified on the ticket.
  
  
• You can get a replacement ticket from the pawnbroker if you satisfy the pawnbroker that you are the Pledger, or an agent of the Pledger; (unless you know the pawnbroker personally, this is likely to require you taking some form of photo identification along to the pawnbroker).
  
  
• A label must be affixed to the pledged goods until they are redeemed, or otherwise
  disposed of.
  
  
• You may, at any reasonable time, inspect any of your goods held by a pawnbroker - if doing this, you may view but not handle the goods; or the pawnbroker can demonstrate that they are operational.
  
  
• If you do not redeem your goods on or before the redemption date, the pawnbroker may sell them to recover the redemption price. This must be at a public, or an internet, auction in the first instance.
  
  
• If the sale price is more than the redemption price: if the excess is $10 or more, the pawnbroker must inform you in writing (at your last known address) of the amount you are entitled to and the date by which you must claim it. (You are entitled to 90% of any excess, provided you claim it within 6 months of the sale).
  
  
• If you later decide you want to sell the goods to the pawnbroker, the pawnbroker may buy them if the purchase price is more than the redemption price, in which case you will receive the difference in cash at the time of sale.

RIGHT TO CANCEL
The Credit Contract and Consumer Finance Act 2003 gives you a right for a short time after the terms of this contract have been disclosed to you to cancel the contract.

You must also return to the creditor any advance and any other property received by you under the contract.

How to Cancel
If you want to cancel the contract you must give written notice to the creditor.

Time Limits for Cancellation
If the disclosure documents are handed to you directly you must give notice that you intend to cancel within 3 working days after you receive the documents.

If the disclosure documents are sent to you by electronic means (for example, e-mail) you must give notice that you intend to cancel within 5 working days after the electronic communication is sent.

If the documents are mailed to you, you must give the notice within 7 working days after they were posted.

Saturdays, Sundays and national public holidays are not counted as working days.

What you may have to pay if you cancel
If you cancel the contract the creditor can charge you interest for the period from the day you received the advance until the day you repay the advance.

This statement only contains a summary of your rights and obligations in connection with the right to cancel. If there is anything about your rights or obligations under the Credit Contracts and Consumer Finance Act 2003 that you do not understand, if there is a dispute about your rights, or if you think that the creditor is being unreasonable in any way, you should seek legal advice immediately.