FAQ
ID required for a loan contract
Post and Pawn will require valid ID. PLEASE DO NOT SEND US ORIGINALS. Post and Pawn will require one copy of photo Ie. copy of Passport or photo driving licence, as well as this we will require proof of a home address dated within the last 3 months ie. utilities bill or bank Statement. We can not provide a loan until we have this information.
Please provide these copies within your special delivery pack supplied by post and pawn or via email.
Loan Period and Extending a Loan
Loans supplied by post and pawn can last for a period up to seven months. The goods remain with post and pawn throughout the time of the loan, but remain totally the client’s property.
Interest is charged monthly from the date of the loan until the same date the following month and so on. For example if you receive a loan dated January 20th interest will occur from that day and will then occur on the 20th of each month for the term of the contract so if the item(s) is redeemed (loan repaid with cleared funds, back to Post and Pawn) prior March 20th two months interest would be charged.
All contracts are can be renewed (extended) after the full (seven months) term of the contract, by paying all the interest which has occurred throughout the full term of the loan contract. When this payment is received by Post and Pawn a new contract from that date will be issued. Please note all cheques to renew each contract must be payable to JPFS Ltd.
Speacial Delivery Insured Package
When you receive a your postal pack from Post and Pawn you must place the items as discussed on the loan apporal form into this pack. The postal pack is insured up to £2,500.00. If you do post goods exceeding the replacment value of this amount you do so at your own risk.
Please retain photographs or any insurance valuations you have for the item(s) you do post to Post and Pawn as in the unlikely event that your pack does get lost or stolen with the Royal Mail Speacial Delivery Service, this could support your claim.
Royal Mail Requirments Claim should also include any available supporting information / evidence relevant to the claim. Evidence of posting with Royal Mail. Evidence of the item’s value (for loss, part loss & damage claims only). 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. The signed and dated completed claim form along with the supporting evidence should be sent to: Freepost Royal Mail®, Customer Services, Plymouth PL9 7YB (no postage required) or handed in at any Post Office® branch. Royal Mail will provide the customer with a unique reference number for their claim. Royal Mail will carry out checks and enquiries to establish 1) that the item was posted with Royal Mail and 2) the cause of the loss, part loss, damage or delay. This may involve requesting additional documentation / information from either the sender or recipient of the item or inspecting the packaging and item in question. Royal Mail will take in to account any findings and the compensation policy for the product used to determine how much, if any payment is due.
If both the sender and recipient of the item make a claim for compensation then the right to claim shall lie with the sender unless compensation has already been paid to the recipient.
If an insurance claim should arise when your property is posted back to yourself the replacment value will be to Post and Pawns estimated value.
If your goods are valued at more then the highest insurance amount please inform us and post and pawn will arrange for extra cover with the insurance. We will need full details of all the items prior this.
Insurance Valuations
Post and pawn or New Bond Street Pawnbrokers cannot supply written valuation for insurance purposes.
Receiving your Loan
After agreeing the online loan agreement from Post and Pawn. A transfer direct to your bank will take three working days (please note the actual loan agreement will not start until you receive your funds). If you do wish for the whole process to be expressed we can also offer this service for the same day transfer when we receive the item(s), please note there is an extra charge for this service.
Interest and Charges
Contract charge of £10.00 (this charge is not applicable for renewal of contracts)
Post and Pawn charge 8% per a month
All payments are made direct to each clients bank account, a standard transfer takes three working days (please note interest will not be charged until the transfer is complete)
An express service is available but there is an extra charge of £20 per a transfer for same day payment