05 Feb The pawner shall advise the pawnshop of any change of address/contact number/email address/fax number
In case this loan is not paid on maturity date, the pawner hereby agrees to pay in addition to accrued interest, 2% per month of the principal, as liquidated damages
9. The pawner and the pawnshop agree that the notice of auction sale shall be delivered via ?? email, ?? SMS, ?? fax or ?? registered mail or courier at _________________ (check box of agreed mode and indicate the email address; mobile phone no.; fax no,; or complete residential address, as maybe appropriate in the space provided). In case no mode of notification is agreed upon, the default shall be via ordinary mail. The pawnshop shall have the right to sell or dispose of the pawn in public auction if the pawner fails to redeem it within the ninety (90) day grace period. The pawnshop shall send the reminder to the pawner on or before the expiration of the ninety (90) day grace period.
10. This ticket shall be surrendered at maturity date upon payment of the loan. In case of loss or destruction of this ticket, the pawner hereby undertakes to personally present an affidavit of loss to the pawnshop before the redemption period expires.
The pawnshop has two (2) days to decide whether to accept; (1) the affidavit in place of the original pawn ticket; or (2) to issue a substitute pawn ticket, thereby canceling the original.
11. In case of pre-payment of this loan by pawner, the interest collected in advance shall accrue in full to the pawnshop.
12. The pawner shall not be entitled to the excess of the public auction sale price over the amount of principal, interest and service fee; neither shall the pawnshop be entitled to recover the deficiency from the pawner.
13. The pawnshop shall exercise reasonable care and caution that an ordinary prudent person would as to his own property over the thing pawned in accordance with Republic Act No. 386 (Civil Code of the Philippines) as amended.