MIM Pawnshop Skills and Services offers BSP Licensed Pawnshop Auction Services

Presidential Decree No. 114, also known as the “Pawnshop Regulation Act,” sets forth a series of regulations for a pawnshop auction. These regulations are in Secion 15, which is titled “Public auction of pawned articles.” Among the regulations is one that requires all pawnshop auction to be “…under the control and direction of an auctioneer with license duly issued by the corresponding authorities…” In this case the corresponding authority is The Bangko Sentral ng Pilipinas (BSP). In other words an auction must be “under the control and direction” of an auctioneer licensed by the BSP. Or even more simply, a set of books from a pawnshop must be signed off by an auctioneer licensed by the BSP.

There are not many licensed pawnshop auctioneers in the Philippines at this time. Fortunately, for my clients, I am licensed by the BSP to sign auction books. I do this at the most competitive price in the Philippines. My price is P150 per pawnshop branch and I can sign auction books in any province. If you are having trouble with pawnshop auction compliance at a reasonable price –  contact me for help.

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3 Responses to “MIM Pawnshop Skills and Services offers BSP Licensed Pawnshop Auction Services”

  1. Kent ornedo Says:

    yung expiry date of redemption period was march 17, 2017 so meron pa kong 90 day grace period po para ma settle ko yung obligations ko sa pawnshop, tama po ba?

  2. Mark Veneranda Says:

    Hi,
    Am I right on my understanding that 90 days period from the maturity date still the pawner can claim the pawned items to pay amount + interest? Is it standard to all pawnshop in the Philippines.

    Thanks.

    Mark

    • I & J BUSINESS MANAGEMENT CONSULTING Says:

      Yes you are right. The 90 days is called grace period, it applys after the maturity date or on the 2nd 3rd and 4th month, that pawners can still renew or redeem their loan. Pay intetest or interest plus principal. And yes it is standard to all pawnshop under the regulations of BSP.


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