TERMS AND CONDITIONS 

Identifying persons pawning goods

Cashmart must require every person attempting to pawn second-hand goods to produce evidence as to the person's identity. Acceptable forms of identification are set out in the Second-hand Dealers and Pawnbrokers Act 1989 and the Second-Hand Dealers and Pawnbrokers Regulations 2008 (regulation 8).

 

Identification containing a photograph

• a passport 

• a driver's license 

• a document issued by a statutory authority that contains a person's photograph, such as a learner driver's permit 

• an identification card issued by a tertiary education institution 

• a license issued under the Firearms Act 1996.

 

Identification without a photograph

If the identification used does not include a photograph, two forms of identification are required, from the following list: 

• a full birth certificate or extract 

• a certificate of Australian citizenship 

• a marriage certificate 

• one only of the following health or pensioner cards issued by or on behalf of the Commonwealth Department of Families, Housing, Community Services and Indigenous Affairs, or the Commonwealth Department of Health and Ageing: 

  • health care card 

  • pensioner concession card 

  • Commonwealth seniors health card

• one only of any other card issued by the above Commonwealth Departments and which certifies entitlement to Commonwealth health concessions 

• an identification card issued by a tertiary education institution 

 

Cashmart must not receive second-hand goods in pawn from a person under 16 years of age.

 

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Valuation of Goods

To assess the value of different items, Cashmart use guidebooks, catalogs, Internet search engines, and their own experience. Valuation of goods is at the discretion of the staff on duty.  Cashmart reserves the right to refuse service based on the condition of goods, current supply and demand of the goods and/or lack of evidence to prove ownership of goods.

 

Fees & Charges

Cashmart will charge a monthly amount called interest. Interest is charged per month part thereof.

 

Loan Period

Cashmart has a fixed loan period of 1 calendar month.  The loan period starts the day the goods are pawned. Interest can be paid to renew/extend the loan period by 1 month. Paying 1 months interest extends the loan by 1 month.

 

Retention of goods for seven days

For 7 days after receiving second-hand goods, Cashmart must keep the goods in the form in which they were received and without disposing of them in any way.

 

Contracts for pawning goods

Cashmart must give to the owner of the goods a pawn ticket containing the prescribed particulars and a notice in the prescribed form concerning the rights and responsibilities of the parties to the transaction.

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Claiming your pawned goods

The owner of the goods can claim back by paying what was owed under the loan and the amount of unpaid interest. Goods can be claimed back at anytime before Cashmart sells them, even if the loan period has ended.  Cashmart must be provided with ID as prescribed above and the original pawn ticket.

 

Selling unclaimed goods

Cashmart will sell unclaimed goods as soon as practicable after the end of the loan period and will obtain the best price reasonably obtainable for the goods. Cashmart will not inform the original owner if goods are sold.

 

Return of residual equity in unredeemed goods that are sold

If Cashmart sells unclaimed pawned goods after the expiry of the loan period, the person who pawned the goods is entitled, for a period of 12 months after the sale, to claim from Cashmart the residual equity, if any, in respect of the goods. Cashmart must, within 14 days after the sale, send to the person who pawned the goods a notice in the prescribed form advising the person that the pawned goods have been sold and that the person is entitled to claim the residual equity from Cashmart within the period of 12 months after the sale. Residual equity means the amount of the difference, if any, between the amount obtained on the sale of pawned goods, and the total of the outstanding amount of the loan and any reasonable costs of sale.

 

Disputes as to the ownership of goods

A person claiming to be entitled to the possession of goods in the possession or under the control of Cashmart, being second-hand goods or goods in pawn, may apply to the Magistrates' Court for an order for delivery of the goods. An application may be made without notice to any other person, and must be supported by evidence under oath or by affidavit.