Prenda-Pasok can only be offered when purchasing an auctioned item. This service will give the customer the chance to buy an auctioned item even if he/she doesn’t have enough money to purchase it. The purchased auctioned item will be pawned and the selling price will be deducted by its appraised value. So, the remaining amount is the amount payable to the customer.


  1. Present the auctioned item that is ready to be purchased to a sales representative.
  2. Tell the sales representative to make a prenda-pasok transaction.
  3. The sales representative will make a computation on what amount is going to be given to the teller.
  4. After agreeing with the amount for prenda-pasok, a receipt will be given by the sales represntative.
  5. Present the receipt along with the payment to the teller.
  6.  Fill-up and sign the information sheet provided.

    First time customers will be required to complete the Know Your Customer (K.Y.C.) form and present a valid ID.

  7. Sign the printed pawn ticket on the spaces provided.
  8. After receiving the customer copy of the pawn ticket, always secure the pawn ticket.

The received pawn ticket is needed to be presented during renewal and redemption of the pawned item.

Minors are not allowed to do any transactions.


  1. The pawner hereby accepts the pawnshop’s appraisal as proper.
  2. The interest rate stipulated herein is in accordance with the existing policy of the Monetary Board. The pawnshop hereby agrees not to collect in advance interest for a period of more than one year.
  3. The service charge is equivalent to one per cent (1%) of the principal loan, but not exceeding five pesos (P5.00). No other charges shall be collected.
  4. This loan is renewable for such amount and period as may be agreed upon between the pawnshop and the pawner, subject to the requirements of P.D. 114 for a new loan.
  5. Upon maturity of this loan as indicated on the face of this ticket, the pawner still has ninety (90) days from maturity date which to redeem the pawn by paying the principal loan plus the interest that shall have accrued thereon. The amount of interest due and payment payable after the maturity date of the loan and during the redemption period shall be computed upon redemption at the same rate of interest provided in No. 2 above based on the sum of the principal loan and interest earned as of the dare of maturity.
  6. The pawnshop shall sent a written reminder to pawner, before the expiration of the ninety (90) days grace period, that the pawn shall be sold or disposed of in the event the pawner fails to redeem the pawn within the ninety (90) days grace period.
  7. The parties hereby agree that this ticket shall be surrendered at maturity date upon payment of the loan. In case of loss or destruction of this ticket, the pawner hereby undertake to personally present an affidavit to the pawnshop before the redemption period expires. It is hereby agreed (1) indicating on the affidavit that it shall take the place of the original pawn ticket for purposes of redemption; or (2) issuing a substitute ticket, the original pawn ticket thereby being deemed cancelled.
  8. The pawner hereby agrees not to assign, sell on in any other way alienate the pawn securing this loan as evidenced by the pawn ticket wihtout proir written consent of the pawnshop and subject to the terms and conditions of this contract.
  9. In case of pre-payment of this loan by pawner, the interest collected in advance shall accrue in full to the pawnshop.
  10. The pawner shall not entitled to the excess of the public auction sale price over the amount of principal, interest and service fee; neither shall the pawnshop be entitled to recover the deficiency from the pawner.
  11. In case this loan is not paid on maturity date, the pawner hereby agrees to pay in addition to accrued interest, 2% upon per month of the principlal as liquidated damages. For purposes of computing the amount of liquidated damages, a fraction of a month shall be considered as one (1) grace period upon payment by the pawner at the loan principal plus interest due and liquidated damages at the rates manner of computation herein prescribed.
  12. The pawner and the pawnshop agree that the notice of auction sale shall be delivered using the option indicated on the face of this pawn ticket. In case no mode of notification is agreed upon, the default shall be via ordinary mail. The pawnshop shall have the right to sell or dispose of the pawn in public auction if the pawner fails to redeem the pawn within the ninety (90) day grace period.
  13. Premises. All pawns except those which are kept inside the vault or safe are insured against fire.
  14. The pawnshop shall not be liable for loss or damage of the pawn due to fortuitous events without fault or negligence on its part while the pawn is in its possession. The pawnshop will not be liable if after testing of the pawned items of upon redemption the pawned items will malfuction due to the following causes: (1) software and firmware defects; (2) sparepart(s) malfunctions; (3) defective accessories and (4) other defects attributable to normal usage and age of the pawned items and could not be detected with reasonable diligence during testing and (5) if the pawned item(s) will malfunction due to non-use/standby of pawned item(s) from date it was pawned until actual redemption.
  15. Upon expiration of the redemption period, the pawnshop has the right to open the sealed pawn for purpose of pubic auction.
  16. Venue of all judicial and administrative cases or proceedings and other legal incidents arising out of in connection witt this contract shall solely and exclusively be brought before appropriate courts, deparments, offices or agencies of the government, situated in the City of Davao.
  17. The authorized representative must present valid identification papers.
  18. The pawner declares under the penalty of the Anti-Fetching Law that he/she is the lawful owner of the property subject of this agreement and that the said pawned item(s) is not a product of any precdicated crime, as contemplated in the Anti-Money Laundering Act and that all the proofs if identity shown and/or submitted to the pawnshop are authentic and valid information given are true and correct.
  19. The pawner further warrants and declares that the item pawned is free from all liens and encumbrances, such as pledge, mortgage, rights of possession, etc. and the pawnshop shall be free from all liabilities or obligations which may have acrued prior to the pawn transaction. The pawnshop shall not be held accountable for any liabilities or obligations of the pawned arising from the pawned item prior to this transaction. The pawner undertakes to pay or reimburse the pawnshop if the latter should be compelled any damages arising from their obligations on previous undertaking(s) to third parties.
  20. The pawnshop shall notify the pawner of any change in its business address/location.
  21. The pawner shall advise the pawnshop of any change of address/contact number/email address.