Lombard Mutual Terms & Conditions
[reveal align=”left” title=”Pawn Ticket Terms and Conditions” ]
- 1. The pawn ticket contains all of the terms and conditions of our contract. No extension of time to redeem or waiver or modification of any term of this contract shall be valid unless in writing, signed by us.
- 2. RATES OF INTEREST : four percent per month, or any fraction of a month (48% per annum). A minimum interest charge of twenty five cents per month may be made on any loan.
- 3. This pledge may be sold by us after FOUR (4) MONTHS from the date of pawn, provided at least thirty (30) days before the sale we send you, by mail, to the address given at the time of pledge, a written notice that we intend to sell.
- 4. Should your ticket be lost or forgotten, you must notify us at once, and give us an exact description of the article pawned and positive identification of yourself and apply for the issuance of a stop ticket. Anyone presenting your ticket before you so apply and obtain the issuance of a stop ticket may redeem the pledge and we will not be responsible to you.
- 5. You cannot redeem the pledge without your ticket unless you also furnish to us, at or before the time of redemption, a surety company bond in an amount twice the value of the pledge as determined by us, indemnifying us against loss, damage or expense by reasons of any claims by the holder of the ticket or by the alleged owner of the pledge, the form of the bond and surety to be approved by us.
- 6. If any third person makes a claim upon us for the pledge, you cannot redeem it unless you furnish a surety company bond, your ticket, amount and surety to be as provided in “5” hereof.
- 7. For the purpose of determining any claims against us, this pledge shall be deemed to have a value of not exceeding twice the amount of our loan stated on your ticket and in no event or suit shall we be liable on any claim in excess of that amount unless a higher value has been assigned upon between us and has been stated in writing.
- 8. No civil action or special proceeding upon any claim arising from or in any wise connected with this pledge shall be brought after 2 years from the date of your ticket.
- 9. We are not responsible for loss or damage by fire, water, riot, burglary, robbery, hold up or theft of any kind nor any loss or damage caused by any other casualty, Act of God, or public enemy in excess of our insurance coverage which is set at twice the amount of the loan stated in accordance with the terms of paragraph “7” hereof.
- 10. No notice to us by you shall be binding upon us unless in writing and sent to us at the address on our contact page by registered or other mail for which receipt is obtained from postal authorities.
- 11. No suit or any claim concerning any redeemed pledge with respect to identity, condition or otherwise may be brought against us unless such claim is made before the goods delivered by us are taken from our premises.
- 12. The pawnbroker in the event of retirement from business or change of ownership is authorized to transfer the pledge and his/her interest therein to any licensed pawnbroker in the State of New York.
- 13. NOTICE OF ELECTION: (a) The holder of our pawn ticket may redeem the article pledged at any time prior to sale at private sale or public auction first following default. The article pledged may not be sold at private sale or public auction until it has remained four months in the collateral loan broker’s possession. (b) If the article pledged is sold at private sale or public auction, money, if any, in excess of the amount of the loan, interest, lawful auctioneer’s commission, if applicable, lawful extra care charges, lawful ticket charges and the expenses of the advertisement of sale, if applicable, shall be paid to the holder of the pawn ticket. (c) If the collateral loan broker shall purchase the article pledged at auction the holder shall have an additional ten days to redeem the article pledged by paying to the collateral loan broker the amount of the loan, interest, lawful auctioneer’s commission, lawful extra care charges, lawful ticket charges and the expense of the advertisement of sale. (d) A holder may sell his/her ticket to a third party at any time prior to private sale or auction, or he may sell his/her ticket to the collateral loan broker any time ninety or more days after the article was pledged. (e) If his/her ticket is sold to a collateral loan broker the holder may redeem the ticket within ten days after the sale by paying the collateral loan broker the amount paid for the ticket.
[reveal align=”left” title=”General Terms and Conditions” ]The terms and conditions below are legally binding on you as a user of the Lombard Mutual Web site and/or as a customer of Lombard Mutual, LLC (“Lombard Mutual”) and inure to the benefit of Lombard Mutual and its successors and assigns.[/reveal]
[reveal align=”left” title=”Requirements For Use” ]You must be at least twenty-one (21) years of age to order a Lombard Mutual Kit, send Lombard Mutual your gold, jewelry or other property or to otherwise conduct business with Lombard Mutual. In addition, you must be (and, by using a Lombard Mutual Kit or sending property to Lombard Mutual, you represent and warrant that you are) the actual legal owner of any and all gold, jewelry and other property sold or attempted to be sold to Lombard Mutual and acting on your own behalf and not as the agent or representative of another person. Lombard Mutual may request documentation or other proof of compliance with these requirements.[/reveal]
[reveal align=”left” title=”Guaranty Against Loss/ Limitations of Liability for Mailed Kits” ]If there is a loss of the contents of a Lombard Mutual Kit that you properly shipped to Lombard Mutual in accordance with the instructions and procedures set forth on the Lombard Mutual web site, Lombard Mutual will guaranty you against such loss subject to these terms and conditions.
Lombard Mutual’s liability under such loss guaranty or otherwise will be limited to one-third (1/3) of the value of the lost contents or One Hundred ($100.00) Dollars, whichever is less.
If you believe your gold, jewelry or other property is worth more than $100.00, we recommend that you insure your shipment for more at your own expense using any carrier you choose.
In addition, if you do not provide Lombard Mutual with an original sales slip or appraisal (issued prior to the shipment to Lombard Mutual) for the lost contents, the value of your contents will be liquidation value, and Lombard Mutual’s liability will be limited to Thirty-Three ($33.00) Dollars. If you provide an original sales slip or such appraisal, the value or your contents will be based on such sales slip or appraisal, and Lombard Mutual’s liability will be limited to One Hundred ($100.00) Dollars.
You expressly acknowledge and agree that if you do not provide a sales slip or appraisal that was issued prior to the contents being submitted to Lombard Mutual, Lombard Mutual’s determination of value shall be conclusive and binding.
Without limiting the foregoing, this guaranty will apply only to property shipped in the Poly-Bubble Lombard Mutual Kit packaging supplied by Lombard Mutual. Lombard Mutual reserves the right, in its sole discretion, to reject delivery of any mail, envelope or package that appears damaged, opened or tampered with, and any such rejected mail, envelope or package will be returned to you via U.S. Mail. Lombard Mutual will have no liability to you for any such attempted delivery or return of any such items.
Except as expressly provided in these terms and conditions, Lombard Mutual will have no liability to you whatsoever, whether arising in connection with your use of the Lombard Mutual Web site, a Lombard Mutual Kit, loss of gold, jewelry or other property or for any other reason, including, without limitation, Lombard Mutual’s own acts or omissions. In no event will Lombard Mutual’s liability to you exceed One-Hundred Dollars ($100.00).
Lombard Mutual will not be liable to you for any damages, including but not limited to, incidental, consequential, punitive, loss of profit or opportunity, other than as expressly set forth in these terms and conditions. [/reveal]
[reveal align=”left” title=”Claims Procedure” ]In order to receive a loss guaranty payment or other remuneration from Lombard Mutual, you must submit a claim to Lombard Mutual on the claim form provided by Lombard Mutual. Such forms are available on request. You may request and submit a claim form any time after at least sixty (60) days after the date of mailing your Lombard Mutual Kit. Lombard Mutual will not accept or process your claim form unless it is fully and accurately completed, signed and delivered to Lombard Mutual in accordance with the instructions on the claim form. You must submit all supporting documentation with the completed and signed claim form. Failure to comply with these requirements will constitute a waiver by you, and result in the denial by Lombard Mutual of, your claim.[/reveal]
[reveal align=”left” title=”Binding Effect” ]These terms and conditions, including, without limitation, the limitations of liability, will be binding on you and all third parties, including, but not limited to, your successors, assigns, insurance carriers and any other individual or entity asserting any right or claim relating to your transaction with Lombard Mutual. In no event will Lombard Mutual be liable to any third party, including any insurance carrier. Lombard Mutual will not be liable for any subrogation claim brought by your insurance carrier, and, by submitting any property or Lombard Mutual Kit to Lombard Mutual, you expressly and specifically waive any such subrogation claim on your behalf as well as on the behalf of your insurance carrier. [/reveal]
[reveal align=”left” title=”Oral Loan Officers” ]You may request Lombard Mutual to provide a telephone or e-mail quote for your items after such items have arrived at Lombard Mutual’s processing facility. Items to be used as collateral will automatically receive a non-binding oral or written offer. Such offers may, at the discretion of Lombard Mutual, be recorded. Upon your acceptance, oral or written, of such loan quote, you will be legally bound by such transaction, payment will be issued by Lombard Mutual within twenty four (24) hours and your items can only be redeemed according to the terms and conditions of the loan agreement.[/reveal]
[reveal align=”left” title=”Oral Buy Offers” ]You may request Lombard Mutual to provide a telephone or e-mail quote for your items after such items have arrived at Lombard Mutual’s processing facility. Such offers may, at the discretion of Lombard Mutual, be recorded. Upon your acceptance, oral or written, of such buy quote, you will be legally bound by such transaction, payment will be issued by Lombard Mutual within twenty four (24) hours and you will not have the opportunity to return your check and receive your items back from Lombard Mutual.[/reveal]
[reveal align=”left” title=”Return Insurance Liability Limitation” ]Lombard Mutual will insure any item returned to you with a value, as determined by Lombard Mutual in its sole discretion, of $15.00 or more at the amount of two (2) times such value (regardless of whether and in what amount it was insured for when mailed by you). Lombard Mutual will not insure any item with a value of less than $15.00. Lombard Mutual will, in its sole discretion, choose the return carrier, insurance and receipt verification method for each transaction. This applies for both rejection of buy and loan offers and loan redemptions. Except for such insurance obligation, Lombard Mutual will have no liability whatsoever in connection with the return of any item to you. Lombard Mutual will reimburse private shipping costs (nonuse of the Lombard Mutual Kit) to customers, whether through loans or buys, which transact for $500 or more. Such reimbursement is limited to $15 and will be credited to interest due on loans or added to accepted buy offers.[/reveal]
[reveal align=”left” title=”Lombard Mutual Guarantee” ]If for any reason you do not wish to cash the check we send you, and would like your items back, simply return the check so that it arrives at the address indicated on the top left portion of the check within ten (10) days of the date on the check. If you are concerned that your returned check will not arrive back to us in time, please call to speak to one of our customer service representatives and to notify us so that we may properly pull your goods in advance of receiving your check. After receiving your check, Lombard Mutual will return your items within 21 business days. Lombard Mutual will do so without any charge to you. The shipment back to you is guaranteed against loss. This guarantee is limited to buy transactions and not applicable to loan transactions. Moreover, this guarantee is null and void if there was already an accepted oral or written buy or loan offer.[/reveal]
[reveal align=”left” title=”Loans By Mail” ]Jewelry Loans that are originated and funded from our loans by mail program, will only be done so by check, wire or money transfer. Likewise, any principal or interest payments not submitted at our counter personally, must be made by either check, wire or money transfer. A copy of your original loan agreement and valid ID must also accompany any and all payments not made in person at the counter.[/reveal]