Information for Pawners
1. When are the pawnbrokers’ auctions?
With the enactment of the Pawnbrokers Act 2015 on 1 April 2015, pledges taken in by pawnbrokers from 1 April 2015 onwards that remain unredeemed on the expiry of the lawful redemption period will be forfeited instead of auctioned. In the event of such a forfeiture, the unredeemed pledges becomes the absolute property of the pawnbroker. The last public auction of pawnbrokers’ unredeemed pledges was held on 24 October 2015.
2. How do I know if I have unclaimed surplus due to me pursuant to the repealed Pawnbrokers Act, and how do I get the surplus back?
Please refer to following Registry of Pawnbrokers web-link on how you can check if there are any unclaimed monies due to you and the steps to recover them.
3. What are the modes a pawnbroker may serve a notice of forfeiture?
Please refer to this infographic for the permitted modes of serving a notice of forfeiture by a pawnbroker.
4. Are pawnbrokers allow to charge a pawner an administrative fee for a pawn ticket?
Yes, pawnbrokers that offer cashless payment modes* may charge a pawner a fee of $2 for each pawn ticket issued. Please refer to this infographic for more information.
*Credit facilities (e.g. credit cards) are excluded.