Pre Contract

SECCI Document Example

NPA Liability Disclaimer
In preparing this information, we have endeavoured to offer current, correct and clearly expressed information. However, since inadvertent errors can occur and since relevant laws and regulations often change, the information may be neither current nor accurate. Nothing in this document constitutes professional advice.

No action should be taken or omitted to be taken in reliance upon this information and users should obtain professional advice concerning specific matters and the National Pawnbrokers Association accepts no consequence resulting from reliance on this information. 

V3

PRE-CONTRACT CREDIT INFORMATION

(Standard European Consumer Credit Information)

 

  1. Contact details

    Creditor

    Address
    Telephone number(s)
    Email Address
    Fax Number
    Web Address
  2. Key features of the credit product

    The type of credit Pawnbroking (Short Term Secured Loan)
    The total amount of credit. [This means the amount of credit to be provided under the agreement] £
    How and when credit would be provided The sum of £ [ ] will be provided upon execution by both parties of the pawn agreement and the handing over of the item taken in pawn to the pawnbroker.
    The duration of the credit agreement. [ ] days/weeks/months.
    Repayments.  

     

    The total amount.
    [This means the amount you have borrowed plus interest and other costs]
    If you repay in accordance with the terms of the agreement you will be required to repay £ [ ].
    Security required
    This is a description of the security to be provided by you in relation to the credit agreement
    [Description of property to be taken as security].
  3. Costs of the credit

    The rates of interest which apply to the credit agreement. Interest rate [ ] % per annum.
    Annual Percentage rate of Charge (APR).
    This is the total cost expressed as an annual percentage of the total amount of credit.
    The APR is there to help you compare different offers.
     [ ] %APR.

    The APR is calculated on the assumption that the Pawnbroker and the   Borrower meet their obligations under this agreement in full and on time.

    Related costs.
    Costs in the case of late payments ] monthly interest
    Consequences of missing payments If you do not redeem the article(s) on or before [       ] you may lose your right to redeem it (them). An article(s) not redeemed within the redemption period becomes our property if the credit (or credit limit) is not more than £75 and the redemption period is 6 months.

    In any other case it may be sold by us, but it continues to be redeemable until it is sold. Interest is payable until the actual date of redemption. Where the credit (or credit limit) is more than £100 we must give you 14 days’ notice of our intention to sell.

    When an article has been sold you will receive information about the sale, if the proceeds (less expenses) are more than the amount that would have been payable to redeem the article on the date of the sale you will be entitled to receive the extra amount.

    If the proceeds are less than the amount owed, and we have  undertaken a separate documented assessment of your creditworthiness prior to entering into the agreement, you will owe us the shortfall.

    If we have not undertaken such an assessment prior to entering the agreement and your item is sold, if the proceeds of sale are less than the amount owed, we will not pursue you for the shortfall, and we will refund any payments made to date.

  4. Other important legal aspects

    Right of Withdrawal. You have the right to withdraw from the credit agreement without giving any reason within 14 days. The  14 day withdrawal period begins the day after the latest of:

    The day on which the agreement was made; or

    If information is provided after the agreement is made, the day on which you receive a copy of the agreement signed by us and you; or

    You are informed that the agreement has been signed, that the signed version is identical to the unsigned copy that you already have and you are informed that you have the right to receive a copy of the signed agreement if you make a request before the end of 14 days beginning with the day after the day on which you receive this written communication.

     

    Early repayment.
    Compensation payable in the case of early repayment.
    You have the right to repay the credit early at any time in full or partially. If you make a single early repayment exceeding £8,000 the creditor is entitled to claim compensation which will be calculated in accordance with section 95A of the Act.
    The period of time during which the creditor is bound by the precontractual information This information is valid from [ ] until [ ].
  5. Additional infomation to be given in the case of distance Marketing or financial services

    [This section for online pawnbroking only]

    a) Concerning the creditor
     

    Registration number

     

    The regulatory authority

     

    Financial Conduct Authority(FCA), 25 The North Colonnade, Canary Wharf, London, E14 5HS www.fca.uk

     

    b) Concerning the credit agreement

     

     

     

    The law taken by the creditor as a basis for the establishment of relations with you before the conclusion of the credit contract English law unless you reside elsewhere in the United Kingdom in which case local law will prevail.

     

    The law applicable to the credit agreement and/ or the competent court This contract will be governed by English Law and any dispute may be referred to the Courts of England and Wales unless you reside elsewhere in the United Kingdom in which case local law will prevail.

     

    Language to be used in connection with your agreement

     

    The information and contract terms will be supplied in English and we will use English to communicate with you during the duration of the agreement.

     

    c) Concerning redress
    Access to out of court complaint and redress mechanism

     

    You have the right to complain to the Financial Ombudsman  Service, Exchange Tower, London E4 9SR www.financial-ombudsman.org.uk.  or telephone  0800 023 4 567

     

V2.1                 Authorised and regulated by the Financial Conduct Authority (optional)

Hopkins & Jones Ltd is a trade member of The NPA (The National Pawnbrokers Association). Hopkins and Jones Limited, Company registration Number 433606. Registered Office, 7 William IV Street, London, WC2N 4DW. Hopkins and Jones Limited are authorised and regulated by the Financial Conduct Authority licence No 6520002 for the provision of pawnbroking loans.