I & J Business Management Consulting offers BSP Licensed Pawnshop Auction Services
June 24, 2011 — I & J BUSINESS MANAGEMENT CONSULTING
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 certify and sign auction sale books. I do this at the most competitive price in the Philippines. Auction fee is per pawnshop branch and I can sign auction books in any areas of Luzon, Visayas and Mindanao. We offer big discount for pawnshops with 50 and up branches. If you are having trouble with pawnshop auction compliance at a reasonable price – contact us for help.