Pledge agreement

When a person comes to the pawnshop to lay a good, must sign a pledge. This is a document whereby the holder of the ticket and the pawnshop are subject to the clauses in it.

The constitution of the pledge is necessary to guarantee the loan because, in case the amount awarded or interests not covered in due course, the institution may absorb the ownership of the property and auction it or sell it to recoup the credit.

This contract is signed by the institution through the Board Secretary of the H. Trustees and interested by the pignorante, upon receiving the pledge loan.

Clauses of the contract of pledge

Such clauses can be found on the back of the ticket (ticket) of endeavor.

FIRST

The contract is governed by the statutes and regulations of the institution, based on the Law of Private Assistance Institutions and Article 2892 of the Civil Code in the Federal District or its counterpart in the corresponding federal entity as it relates to efforts , performance, endorsement, sale or other transaction relating to the garment.

* The Pledgor agrees to the appraisal of the garment practiced by the institution.
* The Ticket is the only record of the transaction. If stolen or lost, the organization will establish the requirements for the performance of the item described on the front, you can perform operations only pignorante recorded on the ticket.

SECOND

* The institution is not responsible for damage and deterioration that over time, a fortuitous event or force majeure, the clothing gets bent during storage.
* It will not be responsible for sanitation in case of eviction of the items that are auctioned off or sold at auction.

THIRD

In case of loss of the garment, the institution will pay the lien debtor the amount (in cash or kind) set a valuation less than the loan, accrued interest and storage costs. When missing partial payment will be proportional.

FOURTH

* The interest rate on the loan shall be as stated on the front, that nominal per month will be calculated until the expiration of the contract. The month is considered complete regardless of the date of commitment or endorsement made.
* All loans will be added to the interest rate, points may be specified in the front for costs of storage.

FIFTH

For the performance of the garments must be submitted:

The Ticket
Pay the amount borrowed, accrued interest and storage costs
Login at the request of the institution, with a deadline of one business day before the date of marketing that is noted on the front of the ticket, and notices posted in conspicuous places in the branch where it was concluded the contract in addition to the publications in the marketing calendar.

If the person fails to appear, the institution will proceed to auction or sale at auction. If you have not been sold, the owner may save her.

The institution may make increases or decreases the price of the garment in the determined time and percentage, which the debtor concurs.

SIXTH

The ticket holder is entitled to the endorsement of the contract maximum of three times, but first he must deliver the ticket, pay the interest and storage costs.

In any case, each endorsement is considered a new security agreement, continuing current interest and storage fees in effect at the date of endorsement.

Down the assets may not be endorsed, same as recorded on lists in view of the Pledgor in the window of endeavor.

SEVENTH

The expiration of commitment is four months with an option for an endorsement or performance in the face of the fifth month period in which no function or endorsed the pledge, will be held for marketing directly from the auctions of the institution or through auction, at the option of the same institution.

The deadline to endorse, is two days prior to the date that the institution has set for commercialization.

In the last business day of each month there will be no endorsement operations.

EIGHTH

At the request of Pledgor may anticipate the sale of the garment, with the authorization of the institution.

When the garment is sold in advance, will be deducted from the loan sales price, accrued interest agreed upon, the costs of storage and the amount or percentage of the selling price of operating expenses reported on the front.

NINTH

If the sale takes place after completing the term of the commitment of the institution selling price charged for the loan, accrued interest agreed upon, the costs of storage and the amount or percentage of the selling price per operating expense may be specified in the front of the ticket.

If there is residual (profit) will be made available to the holder of the ticket to the eight calendar days from the date of sale and upon delivery of the ticket.

The remaining uncollected at a nominal period of six months from the month of sale will be for the institution.

For the clothes reach the sixth month following the month nominal marketing and have not been sold, the ticket holder is not entitled to any payment by way of remainder.

<>

Played objects not picked up within three working days following the performance, storage rights cases nominal monthly on the loan amount and the deadline for rescue is 60 days. After this time, the Pledgor transmitted by this contract, the ownership of these objects to the institution.

All ticket holder's disagreement with respect to the quantity and quality of goods must be presented at time of receipt of the garments.

ELEVENTH

The ticket holder has the obligation to identify to the satisfaction of the institution when it deems it necessary for the conduct of any proceeding related to this contract.

The ticket is personal and not transferable garment, so that the rights and obligations established main and accessory in it, including the well pawned may not be assigned or transferred by any legal means, in ownership, use or enjoyment.

The Pledgor of this ticket designated as a beneficiary in the event of death, to any of his heirs. The beneficiary must submit the ticket, the death certificate and registration records that prove relationship to the Pledgor, as well as meet all other obligations under this contract.

TWELFTH

This document is void if you have corrections, erasures or scrapes in case you change your sense about any circumstance or point this effect, in which case the Institution reserves the right to take appropriate legal action.

THIRTEENTH

The term of this contract is 10 months rated the first four comprise the term of commitment and the six following the period of sale, if any.

To interpret the contract and its performance, the parties submit to the jurisdiction of the competent courts in Mexico City, DF renouncing the jurisdiction by reason of their present or future domiciles or for any other reason they correspond.

All taxes, if any, are borne by the ticket holder. For purposes of this contract is to auction the site are displayed for sale at fixed price goods of all kinds.