Use of this Website

This website is owned and operated by MPEYAS PAWN SHOP (“we,” “us” or “our”).

Company registration number PVT-XYU25JB; we are registered in Kenya, Nairobi;

Registered office: Vision Plaza/25489/MombasaRd, Mombasa Rd, P. O. Box 1586 – 00100 – G.P.O NAIROBI

By accessing this website and/or requesting for a pawn loan and/ or placing an order and/or requesting for a valuation and/or requesting a delivery you agree to be bound by the Terms and Conditions set out below. If you do not agree to be bound by these Terms and Conditions you may not use or access this website.

References to this website in these terms and conditions apply to this website however you access it, including accessing this website through our mobile applications or a version of this website optimised for use on mobile devices. Whenever you access this website through a mobile application or mobile-optimized version of this website, the section of these Terms and Conditions entitled “Mobile Access” also applies.

All transactions are governed by applicable local laws and regulations regarding pawnbroking, money lending, and consumer protection

These terms and conditions are subject to change without prior notice. Any changes will be effective immediately upon posting

Any questions regarding these Terms and Conditions or subsequent issues should be directed to:

MPEYAS PAWN SHOP Customer Service

Telephone: 0786 777 000
email: hi@mpeyas.com

Loan Interest, & Charges

All loans will be held for SIXTY (60) DAYS. However, Interest MUST be paid every 10 Days, if interest is not paid, pledge will be sold WITHOUT NOTICE.

The pawn loan interest rate is 20% every 10 Days. We do not charge any other fee. The loan is renewable by paying interest every 10 Days for a maximum of 60 Days.

Additional fees may apply for storage, insurance, or administrative costs. These fees will be CLEARLY laid out in the Agreement Form which will be provided before finalizing the transaction.

Pawner can close loan anytime they wish to from the time loan is issued by paying back full outstanding interest and the loan principal.

Loans do not have grave period. Grace period can only be give at MPEYAS PAWN SHOP discretion.

There will be a charge of a minimum of Ksh200 per month for the storage of each property/collateral if it is not collected on time, one day after loan expiry date. The charge will be based on the item space coverage, and the storage charges are not written on the pawn agreement form.
All loan payments MUST be made ONLY through our MPESA Paybill 952482 before the pawn expiry time.

Pawning Process

Items sent in for pawn must be owned outright by the customer. Proof of ownership may be required for certain items

The customer must be 18 years or older and provide valid government-issued identification at the time of the transaction

The loan amount is based on the appraised value of the item at the sole discretion of MPEYAS PAWN SHOP

By requesting a loan on any watch, we advise that the details of the item(s) will be checked against the stolen and counterfeit registers. If the item(s) is/are found to be registered as stolen, SOOZ have the right to confiscate/hold the item.

Redemption of Pawned Items

Customers must repay the full loan amount, including any accrued interest and applicable fees, to redeem their pawned item(s)

The customer has up to the expiration date stated in the contract to redeem the item, unless an extension has been agreed upon

If the customer fails to redeem the item by the due date, MPEYAS PAWN SHOP reserves the right to sell the item to recover the loan and any associated costs

Sale of Unredeemed Items

Items that remain unredeemed after the expiration of the loan term may be sold by MPEYAS PAWN SHOP without further notice to the customer

Once an item has been sold, the customer forfeits any claim to the item

Liability

MPEYAS PAWN SHOP will take reasonable care of pawned items while in its possession. However, we are not responsible for damage or loss due to circumstances beyond our control, including but not limited to fire, theft, or natural disasters

MPEYAS PAWN SHOP is not liable for any damages or losses arising from the use or resale of pawned items

MPEYAS PAWN SHOP is not responsible for pledged item when the agreement forms are lost or stolen. Not responsible for pledged item when agreement form has been reported lost or stolen.

Item Authenticity and Condition

MPEYAS PAWN SHOP reserves the right to refuse any item deemed to be counterfeit, damaged, or not of sufficient value to secure a loan

The customer guarantees that all items presented for pawn are genuine and free of any liens or encumbrances

Confidentiality

Personal information collected during the transaction process will be kept confidential and used only for business purposes, in compliance with data protection laws

MPEYAS PAWN SHOP does not sell or share customer information with third parties except as required by law

Dispute Resolution

Any disputes arising out of or in connection with a pawn transaction will be handled through negotiation and mediation, where applicable

If a dispute cannot be resolved amicably between the PAWNER and MPEYAS PAWN SHOP the customer has the right to escalate the matter to the Financial Ombudsman Service (FOS), which provides a free, independent resolution service for financial disputes.

Details on how to contact the Financial Ombudsman Service can be provided upon request or are available on their website – www.financial-ombudsman.org.uk

Governing Laws

The Financial Conduct Authority (FCA) of 12 Endeavour Square, London, E20 1JN is the supervisory authority under the Consumer Credit Act 1974. [Ramsdens Financial Ltd: registration number 703462]

The contract you are about to undertake is governed by the law of England, Scotland and Wales

The contract is in English and we shall communicate with you in English

We have the right to assign our rights and responsibilities under this agreement to a third party; however, if we do so you will be notified by us or the party to which we assign the agreement

The pawner hereby accepts the pawnshop’s appraisal as proper.
The pawner and the pawnshop agree that the notice of auction sale shall be delivered via e-mail, and SMS.
The pawner shall advise the pawnshop of any change of address/mobile phone number/e-mail address

EXAMPLE LOAN:

A Ksh1,000/- loan attracts a 20% or Ksh200 interest for 10Days.

You can choose to payback the full loan within the 10 Days and pay back Ksh1,200.

If you do not have whole amount Ksh1200 by due date, you can pay Ksh200 interest only and you get yourself another 10Days. This cycle continues for a maximum of 60 Days.

The Item is sold if you fail to pay any of the interest within the 10 days interval and failure to pay loan principal within the 60days.