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What is the time limit for me to redeem the jewellery which I have pledged?

Updated by MLAW
A pawner should take note of the expiry date of the pawn ticket. A pawner can redeem his/her jewellery before the pawn ticket expires, i.e. within 6 months. Within this 6-month period and at any time after the end of the redemption period but before the pledge is forfeited, a pawnbroker is not allowed to dispose of the pledge. The period of redemption can be extended subject to the agreement between both the pawner and the pawnbroker. A Notice of Forfeiture will be served to the pawner by the pawnbroker within 2 months upon the expiry of the redemption period and the pledge is forfeited in the event that the pawner does not redeem it within one month after the Notice Forfeiture is served.

Topics:

PawnbrokingPawner

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