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Terms of Service

General Terms and Conditions in the Pfandkreditgewerbe

This pawn note is not a trade object; anyone who lends or buys it is at their own risk. The pledgor designated in it can assert its rights under the Pfandkreditvertrag also without presentation of the Pfandscheines, if it makes the loss credible.

1.

Upon handing over the pledge and accepting the pledge and paying out the loan, a pledge agreement is concluded, which is subject to the regulation on the operation of the pawnbrokers, the other relevant regulations and these terms and conditions.

Second

The pledger declares with the delivery of the pledge and receipt of the pledge that the pledge is his free property.

Third

(1) If the lien has been validly ordered, the pledger is released from the pledge credit of any personal obligation to the pawnbroker. If the pledge is not triggered (item 4), the pawnbroker can only satisfy himself from the pledge.

(2) Insofar as the pawnbroker does not acquire a lien on the grounds of the rights of a third party, the pledger shall pay the pawnbroker the interest, the interest stated in the pawn note and the expenses to be calculated until the date on which the pledge is handed over to the entitled third party on the validity of the pledge loan agreement to pay.

(3) If the pawnbroker has issued the pledge to a third party who has substantiated his right that prevents pledging, or if he is ordered to surrender, the pledge is deemed not to have arisen. The same applies accordingly if the pawnbroker had already sold the pledge and the third party demanded compensation; if this damage is higher than the amount to be paid according to the preceding paragraph, the pledger shall be liable in this amount.

4th

(1) In return for payment of the loan, including interest and expenses, the pledge may be triggered upon delivery of the pledge, unless it has already been handed over to the auctioneer for the purpose of realization.

(2) The pawnbroker is not obliged to check the entitlement of the pawn owner to trigger the pledge, unless the pawnbroker is guilty of intent or gross negligence.

5th

At maturity of the loan, a renewal of the pledge loan agreement is possible only against payment of interest and expenses and only in the case of the agreement of the pawnbroker.

6th

(1) A loss of the pledge shall be immediately reported by the pledger to the pawnbroker and made credible by either indicating the number of the pledge or the day of the pledge and describing the pledge.

(2) If the pledger makes the loss sufficiently credible, he shall receive a certificate to prove the loss. The triggering or renewal of the pledge is then possible at any time.

7th

Interest and expenses, which are to be calculated after months, are also fully charged for the beginning of the month. The date of the pledge is included only if the pledge is triggered on the same day.

8th.

(1) If the pledge is not triggered or renewed, it will be used by public auction. If the auction has already been sufficiently publicized, it will be necessary, if further auctions are necessary, in the subsequent announcements only a general reference to previously unsold pledges.

(2) Pledges and pawnbrokers agree that the threat of the auction, a time limit for it and notification of the date of the auction - with the exception of the legally required public announcement - as well as the announcement of the auction result are non-existent and therefore without prejudice to the law of the party entitled to release, to collect the surplus obtained from the pledge with the pawnbroker.

(3) If several objects are pledged by a Pfandkreditvertrag, the Pfandleiher is entitled to the utilization of all Pfandstücke regardless of the height of the proceeds obtained from the individual pieces. If the pledger has pledged an object of his business assets as an entrepreneur, the pawnbroker is entitled, in the case of the realization of the pledge, to settle against him by means of a credit note on the auction proceeds.

(4) If the pledger has pledged an object of his business assets as an entrepreneur, the pawnbroker is entitled, in the event of the realization of the pledge, to settle against the auction proceeds by means of a credit note.

9th

(1) The surplus is entitled to the person entitled to redeem and will be paid upon return of the pledge; Paragraph 6 applies accordingly.

(2) Surplus is the part of the proceeds from the pledge that remains after deducting the loan, interest, expenses and the pro-rata auction costs, unless these are collected by the buyer.

(3) If the surplus is not collected from the pawnbroker within 2 years of the realization of the pledge, it will be delivered to the competent authority and forfeit: the period commences at the end of the year in which the pledge has been utilized.

10th

(1) The pledge is insured at the expense of the pawnbroker at least twice the amount of the loan against fire and mains water damage, burglary theft and adequate robbery.

(2) The pawnbroker is liable for damages or losses only to the extent of the concluded insurance with the insured sum. Further liability, in particular for damage caused by breakage, pests of all kinds or the like, is excluded unless the pawnbroker is guilty of intent or gross negligence. (

(3) Claims for compensation can only be asserted upon receipt of the pledge. Liability of the pawnbroker is excluded as soon as the pledge has been removed from the business premises and damage has not been objected to.

11th

(1) The pledge can also be triggered or renewed by post. The pledger must contact the pawnbroker for details of the settlement. In order to avoid an upcoming auction, however, in the event of triggering, at least the loan amount must be received, and in the case of renewal, the interest and expenses accrued until receipt of the payment must be received by the pawnbroker no later than two days before the auction date. Likewise, the mortgage loan agreement can only be renewed in this way if the pledge is sent and at the same time the interest and expenses incurred have been paid. Shipping is at the risk of the client. The disclaimer of liability pursuant to section 10 (3) sentence 2 also applies to the delivery of the deposit.

(2) Checks, bills of exchange or other payment instructions will not be accepted.

(3) For correspondence requests, please attach return postage.

12th

Jurisdiction and place of performance is - unless otherwise regulated by law - the place of business establishment of the pawnbroker, in which the Pfandkreditvertrag has been concluded.