Pawning

Cebuana Lhuillier leads the pawning industry by offering safety and the highest appraisal rate in the industry in its more than 2,000 branches nationwide. Accepting an array of items, from jewelry to gadgets, as collaterals, the company’s core business has evolved with the needs of its clients.


items accepted for pawning in Cebuana Lhuillier

Cebuana Lhuillier accepts gold, diamond, and platinum jewelry and watches, as well as selected non-jewelry items such as cellphones and laptop computers.

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The pawner must submit at least one (1) of the following as a valid form of identification.

  1. Passport; inlcuding those issued by foreign governments
  2. Driver’s License
  3. Professional Regulation Commission (PRC) ID
  4. National Bureau of Investigation (NBI) Clearance
  5. Police Clearance
  6. Postal ID
  7. Voter’s ID
  8. Barangay Certification
  9. Government Service Insurance System (GSIS) e- Card
  10. Social Security System (SSS) Card
  11. Senior Citizen Card
  12. Overseas Workers Welfare Administration (OWWA) ID
  13. OFW ID
  14. Seaman’s Book
  15. Alien Certification of Registration/ Immigrant Certificate of Registration
  16. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID)
  17. Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
  18. Department of Social Welfare and Development (DSWD) Certification
  19. Integrated Bar of the Philippines ID
  20. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC
  21. Passports issued by foreign governments

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  1. Visit any Cebuana Lhuillier Pawnshop branch and present the item to be pawned.
  2. Advise the branch personnel if you agree with the appraised value and net proceeds.
  3. Sign the pawn ticket on the space provided.
  4. Count the money received and secure the pawn ticket, which is required to be presented during renewal or redemption of the pawned item.

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Cebuana Lhuillier assures highest appraisal and security for pawned items. Advance interest will be charged Php4 for every Php100 loan amount. To maintain the excellent standard of service offered by Cebuana Lhuillier, clients will be charged additional one percent (1%) of the principal loan, but not exceeding five pesos (Php5). No other hidden charges will be deducted from the loan.

Check the estimated value of your item using the appraisal calculator.

* Rough Estimate Only

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With Cebuana Lhuillier’s Renew Anywhere option, there is no need to go back to the branch where the item was pawned to renew the loan. Simply visit any Cebuana Lhuillier branch and follow the steps below:

  1. At the back of the pawn ticket, sign on the space along the ‘Received by’
  2. Present the pawn ticket and the payment for the amount due.
  3. Sign on the space provided on the electronic validation at the back of the pawn ticket.
  4. Sign new pawn ticket on the space provided.
  5. Secure the new pawn ticket, which is required to be presented during renewal or redemption of the pawned item.

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How To Redeem Pawned Items in Cebuana Lhuillier

  1. Visit the Cebuana Lhuillier Pawnshop branch where the item is pawned.
  2. At the back of the pawn ticket, sign on the space along the ‘Received by’ note and below the ‘Received the article(s) in the same condition when pawned and redeemed’.
  3. Present the pawn ticket and the payment for the amount due.
  4. Sign on the space provided on the electronic validation at the back of the pawn ticket.
  5. Open the sealed plastic pouch to check the item.

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  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 (1) year.
  3. The service charge is equivalent to one percent (1%) of the principal loan but, not exceeding five pesos (Php 5). 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. No. 114 for new loan.
  5. Upon maturity of this loan, as indicated on the face of the pawn ticket, the pawner still has ninety (90) days from maturity date within which to redeem the pawn by paying the principal loan plus the interest that shall have accrued thereon. The amount of interest due and 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 based on the sum of the principal loan and interest earned as of the date of maturity.
  6. The pawnshop shall send a written reminder to pawner, before the expiration of the ninety (90) day 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) day grace period.
  7. The parties hereby agree the pawn ticket shall be surrendered at maturity date upon payment of the loan. In case of loss or destruction of the pawn ticket, the pawner hereby undertakes to personally present an affidavit to the pawnshop before the redemption period expires. It is hereby agreed upon that the pawnshop has a period of two (2) days within which to verify from its records before (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 deemed cancelled.
  8. The pawner hereby agrees not to assign, sell or in any other way alienate the pawn securing this loan as evidenced by the pawn ticket without prior 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 be 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 an addition to accrued interest, 2% per month of the principal as liquidated damages. For purposes of computing the amount of liquidated damages, a fraction of a month shall be considered as one (1) full month.
  12. The pawnshop shall not be liable for loss or damage of the pawn due to fortuitous events without faults or negligence on its part, while the pawn is in its possession.
  13. Venue of all judicial and administrative cases or proceedings and other legal incidents arising out of or in connection with this contract shall solely and exclusively be brought before appropriate courts, departments, offices or agencies of the government situated within the city or municipality where the pawnshop’s branch is located.

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MANUAL OF REGULATIONS FOR NON-BANK FINANCIAL INSTITUTIONS – PAWNSHOPS

Pawnshops who transact with any pawner for the first time shall require the pawner to present the original and submit a clear copy of at least one (1) valid photo bearing identification document (ID) issued by an official authority.

The valid ID should indicate the address where the pawner resides, otherwise, pawner shall be required to present, together with the valid ID, a barangay certification or a copy of a billing statement that indicates the address where the pawner resides.

For this purpose, the term “official authority” shall refer to any of the following:

  1. Government of the Republic of the Philippines;
  2. Its political subdivisions and instrumentalities;
  3. Government-owned and/or controlled corporations (GOCCs); and
  4. Private entities or institutions registered with or supervised or regulated either by the BSP or the SEC or the Insurance Commission (IC).

Valid IDs include the following:

  1. Passport; inlcuding those issued by foreign governments
  2. Driver’s License;
  3. Professional Regulation Commission (PRC) ID;
  4. National Bureau of Investigation (NBI) Clearance;
  5. Police Clearance;
  6. Postal ID;
  7. Voter’s ID;
  8. Barangay Certification;
  9. Government Service Insurance System (GSIS) e- Card;
  10. Social Security System (SSS) Card;
  11. Senior Citizen Card;
  12. Overseas Workers Welfare Administration (OWWA) ID;
  13. OFW ID;
  14. Seaman’s Book;
  15. Alien Certification of Registration/ Immigrant Certificate of Registration;
  16. Government Office and GOCC ID, e.g., Armed Forces of the Philippines (AFP ID), Home Development Mutual Fund (HDMF ID);
  17. Certification from the National Council for the Welfare of Disabled Persons (NCWDP);
  18. Department of Social Welfare and Development (DSWD) Certification;
  19. Integrated Bar of the Philippines ID;
  20. Company IDs issued by private entities or institutions registered with or supervised or regulated either by the BSP, SEC or IC; and
  21. Passports issued by foreign governments.

The foregoing shall be in addition to the customer identification requirements under Rule 9.1.c of the Revised Implementing Rules and Regulations (RIRRs) of R.A. No. 9160, as amended (Anti-Money Laundering Act), which requires pawnshop to obtain the following minimum information / documents from pawners:

  1. Name;
  2. Present address;
  3. Permanent address;
  4. Date and place of birth;
  5. Nationality;
  6. Nature of work and name of employer or nature of self-employment/business;
  7. Contact numbers; and
  8. Specimen signature.

A copy of the ID, barangay certificate and/or billing statement shall be kept by pawnshops for convenience of the pawner who continues to transact with the pawnshop but said documents should be updated at least every three (3) years. Pawnshops shall post excerpts of the above requirements conspicuously in its principal place of business and branches. The poster (shown as Appendix 7) shall not be smaller than 8.5 x 11 inches.

Loan Limit. Pawnshops may grant such amount of loans as may be agreed upon between the parties. The amount of loan shall in no case be less than thirty percent (30%) of the appraised value of the security offered, unless the pawner manifests in writing that he is applying for a lesser amount. Pawnshops shall not underappraise the security offered for the loan to circumvent the restriction prescribed by this Section.

Interest and Surcharges. The rate of interest including surcharges on any loan or forbearance of money extended by a pawnshop shall not be subject to any ceiling. However, pursuant to a decision of the Supreme Court (case of Medel, et al vs Court of Appeals, GR No. 131622 dated 27 November 1998) the interest rate shall not be iniquitous, unconscionable, or contrary to morals, if not against the law as may be determined by the Court. No pawnshop shall collect interest on loans in advance for a period of more than one (1) year.

(Circular No. 656 dated 02 June 2009)

Rate of interest in the absence of stipulation. The rate of interest for a loan or forbearance of money in the absence of an expressed contract as to such rate of interest, shall be twelve percent (12%) per annum.

(Circular No. 656 dated 02 June 2009)

Other charges. In addition to interest, pawnshops may impose a maximum service charge of five pesos (P5.00), but in no case to exceed one percent (1%) of the principal loan. No other charges, such as but not limited to insurance premium for the safekeeping and conservation of the pawned item, shall be collected.

Past Due Accounts; Renewal

A loan may be renewed for such amount and period as may be agreed upon between the pawnshop and the pawner, subject to the same conditions provided in this Part for new loans. No loan shall be renewed or its maturity date extended unless a new pawn ticket as defined in Sec. 4102P shall be issued indicating the new term of the loan agreed upon by the pawnshop and the pawner.

Right of pawner to redeem pawn within ninety (90) days from maturity

A pawner who fails to pay or renew his loan with a pawnshop on the date it falls due shall have ninety (90) days from the date of maturity of the loan within which to redeem the pawn by paying the principal amount of the loan plus the amount of interest that shall have accrued thereon. The amount of interest due and payable after the maturity date of the loan shall be computed upon redemption based on the sum of the principal loan and interest earned as of the date of maturity. The procedures to be followed in case the pawner fails to redeem his pawn are prescribed in Sec. 4324P.

If the maturity date of the loan or expiry date of redemption period falls on the pawnshop’s non-business day, a regular holiday or a special non-working holiday in the locality, then the maturity date of the loan or expiry date of redemption period shall be on the next business day.

If the pawnshop is closed on the maturity date of the loan or expiry of the redemption period, with or without prior notice to the pawner, then the maturity date of the loan or expiry of redemption period shall be on the next business day and the pawnshop shall not charge additional interest or surcharge to the pawner. If the pawnshop is closed due to a robbery, then the maturity date of the pledge or expiry of redemption period shall be on the next business day when the pawnshop opens for business and the pawnshop shall not charge additional interest or surcharge to the pawners.

Redemption of Pawns.

A pawnshop shall not release any pawn without first requiring the pawner to present and surrender the corresponding pawn ticket. If the pawn ticket was lost and could not be presented or surrendered, the pawnshop shall require the owner-pawner to execute and submit an affidavit of loss and shall ascertain the identity of the pawner, to ensure that the pawned item is released only to the owner-pawner.

The pawnshop shall return the pawn in the same condition when they were first pawned by pawner, upon full settlement of the loan.

(Circular No. 656 dated 02 June 2009)

Notices to the Pawner and to the Public

ON OR BEFORE THE EXPIRATION OF THE NINETY (90)-DAY GRACE PERIOD, A PAWNSHOP SHALL NOTIFY A PAWNER IN WRITING THAT THE PAWN SHALL BE SOLD OR OTHERWISE be DISPOSED OF, lN THE EVENT THE PAWNER FAILS TO REDEEM THE PAWN WITHIN THE NINETY (90)-DAY GRACE PERIOD, SPECIFYING IN THE SAME NOTIFICATION THE DATE, HOUR, AND PLACE WHERE THE SALE SHALL TAKE PLACE. The notice shall be sent through the mode of notification AGREED UPON BY THE PAWNER AND THE PAWNSHOP AS indicated AT THE BACK OF the pawn ticket at the time the loan was granted which may be through text/SMS message, electronic mail, FAX or by mail to the residential address. lf sent through text/SMS, the pawnshop shall obtain a report from the appropriate Telecommunications Company (TELCO) indicating that a text/SMS message was sent to the mobile phone number given by the pawner. The report of the TELCO shall be made available to BSP upon request.

IN CASE NO SPECIFIC MODE OF NOTIFICATION IS AGREED UPON AND INDICATED AT THE BACK OF THE PAWN TICKET, THE MODE OF NOTIFICATION SHALL BE BY ORDINARY MAIL. PAWNSHOPS SHALL EXERT REASONABLE EFFORT TO NOTIFY THE PAWNER AND PUT ON RECORD IF IT IS UNABLE TO DO SO. PAWNSHOPS SHALL MAINTAIN PROOF OF THE NOTICE TO PAWNER.

If upon the expiration of the ninety (90)-day grace period, the pawner fails to redeem his pawn, the pawnshop may sell or dispose of the pawn only after it has published a notice of public auction of unredeemed articles held as security for loans in at least two (2) newspapers circulated in the city or municipality where the pawnshop has its place of business, six (6) days prior to the date set for the public auction.

The notice shall be in English, and in either Filipino or the local dialect and shall contain the following:

  1. Name and address of the owner of the pawnshop; and
  2. Date, hour and place of the auction sale.

In remote areas where newspapers are neither published nor circulated, the publication requirement shall be complied with by posting notices at the city hall or municipal building of the city or municipality and in two (2) other conspicuous public places where the pawnshop has its place of business.

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From Armida Torres:

“Malaki ang naitutulong sa akin ng Cebuana Lhuillier. Pag nagigipit ako at kailangan ko ng malaking pera maging puhunan, nagagamit ko ang mga alahas ko para maging kapital at hindi na mangutang sa iba na malaki ang pinapatong na interes.Mahalaga sa akin ang Cebuana Lhuillier dahil may nalalapitan at natatakbuhan ako sa oras ng kahipitan. Agad-agad, may cash akong nakukuha para magamit sa hanap buhay.”

From Janet Camsura:

“Maraming beses nang nakatulong ang mga serbisyo ng Cebuana Lhuillier sa buhay namin. Sa bawat pangangailangang pinansyal, ang pagsasangla ng alahas lalo na kapag may emergency na kailangang bayaran, Cebuana Lhuillier ang aking takbuhan. Kahit anong oras o araw na kailangan ko mag trasact, palaging bukas ang Cebuana Lhuillier.”

From Peter Paul Romo:

“Sa tuwing nagkukulang ako nang pera para puhunan sa aking maliit na negosyo sa Cebuana Lhuillier ako pupunta para magsangla ng item ko.Dahil sa Cebuana Lhuillier, naging patuloy ang paglago ng aking negosyo.
Hindi na ako sumubok sa ibang pawnshop para isangla yung item ko kasi nakakasigurado ako na kahit anong sakuna secured ang item ko na pinaka investment ko at ang serbisyo nila ay maganda at mapaghalaga sa mga client.”

From Clara Cana:

“Malaki ang nagiging tulong sa akin ng cebuana sa pang araw-araw sa pamamagitan ng sangla. Malaki ang naging papel ng cebuana lhuillier para mpagtapos ko ang pito kong anak na ngayon ay may magaganda nang pamumuhay.
Number 1 talaga nag kahalagahan ng cebuana sa buhay ko lalo na sa panahon ng kagipitan.”

From Charlie Nosares:

“Maasahan talaga ang Cebuana Lhuillier sa lahat ng panahon. Laking pasasalamat ng aming pamilya dahil muling nakabalik sa amin ang kwintas na naisangla ng walang anumang interest at maging ang principal amount ay hindi namin binayaran. Lubos kaming nagpapasalamat mula sa presidente hanggang sa mga staff.”

 

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1. Why is there a need to test my item during pawning?
We need to test the item you submit for pawning so that we can give the proper appraisal value for your item.



2. Can I still renew or redeem my item even if I lost my pawnticket?
Yes. Immediately inform your branch of the loss so that we can prevent redemption by unscrupulous individuals. During renewal or redemption, you need to present a notarized affidavit of loss and valid IDs.



3. Will my jewelry item be damaged during appraisal?
No. Our branch personnel are expertly trained to carefully appraise jewelry items. In some cases and with your permission, however, special tools may be needed to better appraise the items. The effects of these tools on your item will be barely noticeable.



4. Aside from jewelry items and appliances, what other items do you accept for pawning?
We also accept electronic gadgets such as mobile phone, digicam, videocam, magic sing, and the like. Inquire ­from the pawnshop nearest you for the other items accepted for pawning.



5. Is my pawned item safe while in your custody?
Yes, your item is safe because it will be placed in a sealed plastic pouch with your signature. This ensures that your item will never be tampered. Aside from this, we have enforced in every branch tight security measures to ensure the safety of the item you've entrusted with us.



6. Can I see my item even if I will not redeem it?
As part of our security measures, we do not allow items to be brought out from the vault except when the item is redeemed. This is to ensure the safety and security of your items.



7. Can I redeem my item anytime during business hours?
You can redeem your item anytime except on Sundays and after 5pm from Monday to Saturday.



8. How can I avoid foreclosure of my item?
To avoid foreclosure, you need to renew or redeem your item on or before the expiry date, that is, 120 days from the loan date.



9. Will you be sending a notice/reminder prior to the expiration of my loan?
Yes, we will send a notice via postal mail. Therefore, it is important that you provide us with your complete and updated address.



10. What happens to my foreclosed item?
Foreclosed items are offered for public auction. The auction schedules are published in various tabloid newspapers.



11. Can anyone redeem the item on behalf of the pawner?
We encourage our pawners to personally redeem their items. In the event that they are unable to do so, they may authorize another person to redeem the item on their behalf. Both the pawner and authorized representative must sign at the back portion of the pawnticket. Upon redemption, the representative must present the duly signed pawnticket along with the valid IDs of the pawner and the authorized representative. This is to ensure the safety and integrity of the item redemption and protection of our pawner.

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