Pawn loan agreement

If you own or operate a pawn or jewellery shop and lend money to your customers in exchange for their goods, gold or silver, you enter into a pawn loan agreement (consumer credit agreement) with them.

This agreement contains among others:

• the terms and conditions of the loan
• your personal details and those of your customer
• information on the item secured against the loan (collateral)

Terms and conditions are for instance:

• the value of the item
• the applicable interest rate (this rate may not exceed 4.5%)
• the expiration date of the loan

Your customer has at least 2 months for paying back the loan and retrieving their item.