Terms and Condition

The pawner hereby accepts PawnHero's appraisal as proper.
This loan is renewable for such amount and period as may be agreed upon between the pawnshop and the pawner subject to the same requirements for a new loan, excluding non-Apple branded electronic gadgets (e.g. smartphone, tablet, smart wearable, laptop, camera, action camera, gaming console, soundbar and speaker, television, etc.).
The pawner shall advise PawnHero of any change in its address/mobile phone number/e-mail address.
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 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 cancelling the original.
This ticket shall be surrendered upon redemption, on or after the maturity date, upon full payment of the loan.
The pawner declares under the penalty of law, that he is the absolute owner of the property subject of this pawn ticket.
PawnHero shall not be liable for the loss or damage of the pawned item due to fortuitous events or force majeure. When the loss is due to the fault and/or negligence of PawnHero, the amount of its liability, if any, shall be limited to the appraised value appearing on the face hereof.
The pawner shall not assign, sell or in any other way alienate the pawned item securing this loan without prior written consent of PawnHero. If PawnHero agrees, the terms and conditions of this contract remain enforceable.
PawnHero reserves the right to have the pawned item checked by a professional for authenticity.
Venue of all judicial actions arising out of or in connection with this contract shall solely and exclusively be brought before appropriate courts, situated in the City of Taguig.
The Pawner's authorized representative must present valid government identifications and Special Power of Attorney as evidence of his/her authority to transact on behalf of pawner.
PawnHero shall notify the pawner of any change in its business address/location through: (1) publication in English and in Filipino or in the local dialect in two (2) daily newspapers of general circulation in the city or municipality where PawnHero is closing business; and (2) posting in English and Filipino or in the local dialect for one (1) month after date of publication in a conspicuous place in the premises to be vacated and to be transferred to.
The Parties agree on the interest rates imposed in this pawn ticket. In case of dispute, the regular courts of law have the power to determine the reasonableness and legality of interest rates. PawnHero hereby agrees not to collect advance interest for a period of more than one (1) year.
For transactions covered by PawnHero's Flexible Interest Rate Program, the Pawner acknowledges that he/she has been informed of the available valuation tiers and corresponding interest rates applicable to the pledged item. By entering into this transaction, the Pawner voluntarily selects and agrees to the valuation tier, loan amount, and corresponding interest rate reflected on the face of this Pawn Ticket. The Pawner further acknowledges that higher valuation percentages may correspond to higher interest rates and confirms that the selected tier was accepted prior to the release of the loan proceeds.
In addition to interest charges, PawnHero may impose a maximum service charge of five pesos (₱5.00), but in no case to exceed one percent (1%) of the principal loan.
Items which are for pick-up by pawner due to validated redemption, declined loan offer or rejected from appraisal, remaining unclaimed for thirty (30) days, shall be subject to a storage fee starting on the thirty-first (31st) day until the sixtieth (60th) day, as follows: ₱50.00 per day for small items, ₱80.00 per day for medium items, and ₱100.00 per day for large items.
If an item remains unclaimed after sixty (60) days, PawnHero may dispose of or sell the item through a public auction before a Notary Public, pursuant to Article 2122 of the Civil Code, to satisfy any unpaid storage fees and other applicable charges.
Upon maturity of this loan, as indicated on the face of this pawn ticket, the pawner has thirty (30) days for pawned gadgets and ninety (90) days for other pawned items from maturity date within which to redeem the pawned item by paying the principal loan plus the interest that shall have accrued thereon.
The amount of interest due and payable after the maturity date of the loan up to the redemption period shall be computed upon redemption at the rate provided above based on the sum of the principal loan and interest earned as of the date of maturity. Any additional penalty and/or interest shall also be computed in the same manner.
In case of pre-payment of this loan by the pawner, the interest collected in advance shall accrue in full to PawnHero. For items with deferred interest, full interest shall apply regardless of whether the item is redeemed prior to the expiration of the thirty (30)-day loan term.
The pawner shall not be entitled to the excess of the public auction sale price over the amount of principal, interest and related fees; neither shall PawnHero be entitled to recover the deficiency from the pawner.
To ensure accurate validation of proof of payments, PawnHero requires pawners to upload their proof of payments on the PawnHero website. PawnHero cannot be held liable or accountable for pawner's fault or negligence in submitting proof of payments.
For purposes of computing the amount of interest for pledge loans paid after maturity date, a fraction of the original term of the loan agreed upon as indicated at the face of the pawn ticket shall be considered as prorated.
In case this loan is not paid on maturity date, the pawner hereby agrees to pay in addition to accrued interest, two percent (2%) per month of the principal, as liquidated damages. For purposes of computing the amount of liquidated damages, a fraction of the original term of the loan agreed upon as indicated at the face of the pawn ticket shall be considered as one full term.
The Parties agree that the notice of auction sale shall be delivered via e-mail/SMS using the details supplied by pawner during customer due diligence process (KYC). In case no mode of notification is agreed upon, the default shall be via email provided during KYC. PawnHero shall have the right to sell or dispose of the pawned item in public auction if the pawner fails to redeem the pawned item within the applicable redemption period - thirty (30) days for pawned gadgets and ninety (90) days for all other pawns. PawnHero shall send the reminder on or before the expiration of the applicable redemption period.
Upon expiration of the redemption period, PawnHero has the right to open the sealed pawn for purposes of public auction.