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LOAN DEPARTMENT POLICY
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 | All loans are good for a term of three (3) months. For example, a
loan made on June 10/xx will be due on September 10/xx. |
| Interest is charged at 5% per month or part of month, simple
interest. The minimum charge is $3.00 for the first month or part of
month, and $2.00 for each additional month or part of month. We
usually allow one business day of grace when calculating interest
charges. |
| We require all payments be made in cash only. |
| We require current photo identification, preferably a BC
driver’s license, provincial government ID card, or Canadian
passport with current address. Other types may be acceptable. |
| We are unable to split up loans. You must redeem all items on
a Pawn ticket at one time. |
| We will not show pawned items to a potential buyer. |
| We will not accept items that have had their serial numbers
removed or altered. |
| It is illegal to pawn items to which you do not have clear title.
Items purchased on time payments or conditional sales agreements are not
pawnable until paid in full. |
| All pawn tickets are bearer receipts. If one is lost or stolen,
please notify us in person so that we can protect your goods.
When notified in person (with identification) we will provide
you with the information you need so that you can make a sworn
statement before a notary public. This is provincial law and beyond
our control. We always strive to give the best service that we can,
but the ultimate responsibility for the pawn ticket belongs to the
pawner. If you lose a pawn ticket, please do not phone us. We
do not give any information regarding loans over the telephone. |
| Loans may be renewed or redeemed without the pawn ticket only after
the loan has expired. |
| If you require more time than three (3) months, a loan may be
renewed at our discretion by paying the interest accrued at the end of
the three (3) months. When this is done, we will issue a new pawn
ticket valid for an additional three (3) months. |
| If you are unable to pay interest charges on or before the due date,
on request we will hold the item(s) for a maximum of
seven (7) days past the original expiration date for an additional
charge in the equivalence of one month’s interest. Royal City
Jewellers retains the right to deny such a request. |
| In the event of a loan default, we will usually sell the item(s), if
available, back to the pawner for 150% of the principal amount of the
loan, plus HST. |
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| Any questions please email loans@rcj.ca
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| ©2001 Royal City Jewellers & Loans Ltd.
All Rights Reserved. |
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