Terms and Conditions
Welcome to the iPawn website (the "Site") brought to you by Worthy, Inc. Through the Site, we provide you with traditional pawn shop services through an online portal (the “Services”). The following terms and conditions (the "Terms "), along with the specific pawn or sale ticket relating to the actual pawn or sale, constitute a legally binding contract by which we operate the Services. We refer to ourselves throughout the Site and in these Terms and Conditions as "we", "us" or "our".
The Site serves as an online pawn shop that offers short term loans in which your personal property is used as collateral to secure such loans. Alternatively, we may also offer you the option of simply selling us certain items outright (without the need for a loan). Unlike traditional brick and mortar pawn shops, we conveniently provide the Services straight to your door through our easy-to-use online interface.
We hereby grant you permission to access and use the Site and the Services, provided that you comply with these Terms. You agree that the pawn transaction will be governed by the Terms in force at the time you accept the Terms, regardless of whether those Terms later change. IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS, PLEASE DO NOT ACCESS THE SITE AND DO NOT USE THE SERVICES.
Our simple-to-use Services, in seven steps:
1.1. STEP 1: APPLY FOR A PAWN LOAN OR SALE OF AN ITEM
To apply for a pawn loan or to sell an item, just fill out our Pawn Loan/Sale Request. When you fill it out, you will be requested to provide us with a complete and accurate description of the item you are seeking to pawn or sell, and to attach a photo if you can. The better the description and history of the item, the shorter the estimate process and more accurate our offer will be. We welcome pawns and purchases of certain items, but we may refuse other types of collateral at our sole discretion. Additionally, all Pawn Loan/Sale Requests are subject to our approval and evaluation of the item and we reserve the right to refuse any request at any time prior to its completion.
1.2. STEP 2: RECEIVE AN INITIAL OFFER FROM US
When we accept your request, we may make you an offer based on the description you provided ("Initial Offer"). The Initial Offer will be communicated to you via email and through your Member account, and you will always be able to find the status of our offer, and any past pawn transactions required by Texas Administrative Code and Texas Finance Code, both through your email as well as your Member account.
The Initial Offer is made at our sole discretion. Our estimate of the value of your item is solely to calculate an Initial Offer as part of the Services and may differ from the actual market value of the item. You can accept our initial offer and continue with the request, or not – at your discretion.
Unless you inform us to the contrary, our estimation of your item will be based on the following assumptions (the "Assumptions"):(i) For gold - we will assume 14 karat gold;
(ii) For diamonds, we will assume a H color, SI1 clarity and round brilliant cut;
(iii) For precious stones such as rubies, sapphires and emeralds, we will assume they are natural stones;
(iv) For cultured pearls, we will assume they are Akoya cultured pearls; and
(v) For watches, we will assume they are in perfect working condition (like new) and that the original box and related paperwork (warranty, instructions, original receipt) will be sent to us along with the watch itself.
1.3. STEP 3: PACK AND SHIP YOUR ITEM TO US
If you accept our Initial Offer and proceed with the process, you can create a pre-paid shipping label through the Site in order to ship your item to us. Rest assured that your item will be insured both during its transit and afterwards. The value of the insurance when you send us your item will be calculated based on our appraisals from which the Initial Offer was derived.
If you decide to bypass our shipping and arrange for your own shipping, you shall be solely responsible for delivery costs and related insurance.
We are not responsible for damage to items that are broken in shipping, so remember that it is your responsibility to securely and appropriately package your items, including the use of double-packaging and/or item specific packaging (click here for shipping instructions). In packaging the item, please consider the type and nature of the item, and what might happen as the item is handled, loaded and transported. We strongly recommend that you do not indicate the contents on the outside of the package, unless it is required by the shipping company. We reserve the right to reject delivery of any package which appears to be damaged, opened, or tampered with. Any such item will be returned to you in the same manner in which we received it.
If your item is lost in transit or arrives damaged, we will support you in your reimbursement claim, which must be filed through the shipping carrier.
1.4. STEP 4: ITEM RECEIVED AND CONFIRMED OFFER IS MADE
Once we receive your item, we will conduct a final assessment of the item and do one of the following:
(a) Accept the pawned or sold item as per the Initial Offer if the physical evaluation matches our estimation, thereby making the Initial Offer our "Confirmed Offer"; or (b) Make you an alternative offer to the Initial Offer for you to either accept or reject, if the physical evaluation does not match the estimation. In such case, we will send you a final pawn/sale evaluation (that will replace the Initial Offer and become our "Confirmed Offer").
Reject the item if we find that it materially differs from the description previously provided to us, is inauthentic or is in unsatisfactory condition. In such instances, we will email you and notify you that due to our rejection, we will be shipping back the item to you. The item will be shipped at our expense using certified USPS mail (the tracking number will be emailed to you following its shipment) and will be covered in case of loss or damage during shipment in accordance with its value as determined by our physical appraisal of the item, but in no case more than $1000. Should you prefer an alternative shipping method or higher insurance coverage, you will have up to 72 hours from our initial email to you to inform us of your decision to bypass our shipping and arrange for your own shipping by providing us with an alternative shipping label; in such instance, you shall be solely responsible for delivery costs and related insurance
Bear in mind that examination of certain valuables may require our in-depth examining which might result in slight physical alterations, minor scratches or other minimal physical damage. For example, in cases of evaluating a watch, the back of the watch may need to be opened in order to properly examine the asset; in such instances, watches will not be pressure tested for complete resealing; similarly, when we received items sealed in plastic box or wrapping, we must remove packaging to fully assess the valuable. We shall not be responsible for any such reasonable minimal changes.
Please be aware that any items held in our possession as pawn or in transient status will be insured based on our appraisals from which the Initial Offer or Confirmed Offer, as the case may be, were derived.
1.5. STEP 5: DECIDE TO PAWN OR SELL
You will have seven (7) days to inform us if you accept or reject the Confirmed Offer made to you. If we do not hear back from you within seven (7) days from the date of the Confirmed Offer, your silence will be deemed as a rejection of the Confirmed Offer. In such instances, we will email you and notify you that due to your rejection of our Confirmed Offer, we will be shipping back the item to you. The item will be shipped at our expense using certified USPS mail (the tracking number will be emailed to you following its shipment) and will be covered in case of loss or damage in accordance with its value as per our appraisals from which the Confirmed Offer was derived, but in no case more than $1000. Should you prefer an alternative shipping method or higher insurance coverage, you will have up to 72 hours from our initial email to you to inform us of your decision to bypass our shipping and arrange for your own shipping by providing us with an alternative shipping label; in such instance, you shall be solely responsible for delivery costs and related insurance.
If you decide to sell your item to us, you will be requested to sign a sale ticket agreeing to transfer ownership to us. If you decide to pawn it to us, you will be required to sign a pawn ticket, which will include a description of the item, the amount of the Confirmed Offer, the pawn service charge, annual percentage rate, shipping, handling, and insurance charges to return the item to you , and a description of how to redeem the item.
1.6. STEP 6: WE SEND YOU MONEY
After you sign the pawn or sale ticket, we will send you the funds stated in the pawn or sale ticket. You choose how you would like to receive the payment—by check, by cash transfer directly to your bank account or PayPal account. Take into account that any misinformation provided to us regarding your elected payment method (for example, erroneous email address or non-functioning PayPal account, incorrect bank or routing number, mistaken mailing address for a check) may cause a delay in the delivery of payment. In case of a sale transaction, fees related to the money transfer method chosen by you shall be subtracted from the total amount paid to you. In both sale and pawn transactions, any fees charged to you by a third party for the money transfer, will be paid for by you.
If you sold us your item, this will be the last step.
1.7. STEP 7: YOU REPAY THE PAWN LOAN
When you sign the pawn ticket, you agree to repay the pawn loan amount under the terms set out in the pawn ticket. The time period for repayment of the loan will begin when funds from us are available to you. When transferring cash into your bank or PayPal account, the money will be considered available to you immediately after we make the transfer to you. When sending you a check, the funds will be considered available to you when you sign to receive it. Once the funds from us are available to you, you can always access the pawn ticket and repayment details through your Member account or we will send you an email that sets out the deadline for you to repay the loan (or extend the loan term if we mutually signed a memorandum of extension).
Repayment of the pawn loan can be made by providing us with a cashier check, certified check or money order. We also allow for bank transfer directly to our account. Any surcharge or fee from your bank for such bank transfer will be borne by you. If we receive only partial payment of the pawn amount due to us, we reserve the right to reject your payment, notify you immediately of the shortage, and send the money back to you within two business days if you do not pay the shortage amount.
We provide our services online and as such you can redeem by mail only. When the pawn loan is properly repaid, we will ship the item back to you. You agree and approve that we may use any shipping company chosen by us and that we may further insure your valuable in the applicable market price determined by us, unless you expressly request in writing a different shipping method and insurance amount. The loan repayment amount will include the principal amount of the pawn transaction, the pawn service charge due on the pawn transaction and all necessary shipping, handling, and insurance charges to send the item back to you. Any change of address while a pawn ticket is open will require you to provide us with proof of your new address. Such acceptable identification might include all IDs approved in the Texas Finance Code 371.174: (1) a state driver's license; (2) a state identification card; (3) a passport; (4) a military identification; (5) a certificate of identification from the Mexican Consulate, certificado de matricula consular; or (6) identification issued by the agency of the United States responsible for citizenship and immigration. If you fail to properly repay the amount due in the pawn ticket, before the last day of grace has expired, the item may become ours.
We are insured against loss and/or damage of your item. In the unlikely event that your item is lost or damaged while in our care, we will replace the item as required by law. If we are unable to return the item to you through no fault of our own for any other reason (such as an incorrect mailing address, or your refusal to pay shipping and insurance costs for delivery back to you) we will maintain possession of the item as required by law.
2. ELIGIBLE USERS AND ACCEPTABLE USE
YOU HEREBY ACKNOWLEDGE AND REPRESENT THAT ANY ITEM THAT YOU PAWN OR SELL THROUGH THE SERVICES IS OWNED BY YOU, AND THAT YOU HAVE THE FULL OWNERSHIPS RIGHTS NECESSARY FOR SUCH PAWN OR SALE.
As a condition of your use of the Site, you agree that you will not use the Site for any purpose that is unlawful or prohibited by these Terms or any applicable law. Prohibited uses include, but are not limited to, competitive analysis (including providing screen shots, which are copyrighted material owned by us) and data mining or scraping. In addition, you may not use the Site, the Services, or any of your communications with us to: (a) defame, abuse, harass, threaten or otherwise violate our legal rights (such as rights of privacy and publicity) or the legal rights of others; (b) offer to sell any item that infringes or otherwise violates a third party's rights, including an item that: (i) you cannot legally sell, (ii) is misrepresented to us, and/or (iii) if sold, would cause us to violate any law, statute or regulation; (c) provide false, inaccurate, or misleading personal information; or (d) violate any applicable government laws or regulations (for example, those governing financial services, consumer protections, unfair competition, anti-discrimination or false advertising). We will cooperate with legal authorities and internet service providers in releasing information about users who violate these Terms.
As far as your actual usage of the Services, you shall not (directly or indirectly): (i) access the Services other than by the interfaces provided by us; (ii) take any action that imposes or may impose an unreasonable or disproportionately large load on our infrastructure; (iii) interfere or attempt to interfere with the proper working of the Services or any activities conducted on the Services; (iv) bypass any of our measures which may be used to prevent or restrict access to the Services (or parts thereof); (v) decipher, decompile, disassemble, reverse engineer or otherwise attempt to derive any source code or underlying ideas or algorithms of any part of the Services; or (vi) modify, translate, or otherwise create derivative works of any part of the Services.
3. MEMBERSHIP AND REGISTRATION
In order to use the Services, you will be asked to become a registered member ("Member") and provide us with certain identifiable information about yourself. By becoming a Member, you agree to provide accurate and complete information as requested during the registration process, and to update such information as necessary from time to time.
Additionally, when you sign up to become a Member, you will be asked to submit your email address and choose a password which will enable you to access the Services and your account whenever you like. As the Member account owner, you are solely responsible for the activity that occurs through your account. We urge you to keep your account password secure and to always log-off from the Services when leaving your computer unattended. We will not be liable for losses caused by any unauthorized use of your account. We strongly recommend you notify us immediately of unauthorized use or access to your Member account.
If you decide to submit an item for pawn or sale, you will be asked for additional information and will be required to sign a specific ticket relating to the actual pawn or sale.
While access to the website is free, all pawn services are offered to you pursuant to applicable law, which includes pawn service fees and/or applied interest. All fees, estimations and offers are made in U.S. dollars.
5. RIGHT TO DENY OR LIMIT ACCESS
We have the right, but not the obligation, to provide you with access to the Site. Accordingly, we reserve the right to deny or limit access to any Site users whose behavior and use of the Services we find to be abusive, illegal, disruptive, or that might otherwise fail to conform to our standards and these Terms. We reserve the right to limit or revoke your access in full or in part to the Site, in our sole discretion, at any time, and for any reason, including, but not limited to violation of these Terms. However, we will always allow you some restricted access to the Site for the limited purpose of redeeming, tracking the return of the pledged goods, or updating information on an unpaid pawn loan.
6. OWNERSHIP OF THE SERVICES
The underlying platform of the Services is either our proprietary property, or the proprietary property of our licensors or licensees. "iPawn™", "Worthy™" and other trademarks, slogans, service marks, trade names, and trade dress which appear via the Services are proprietary to us. Except as expressly set forth herein, no right, license, or interest to such trademarks are generated or granted hereunder. You shall not remove or alter any copyright notice, trademark or other proprietary or restrictive notice or legend affixed to any material provided by us.
The Services may contain links to third party websites that are not owned or controlled by us. We have no control over, and assume no responsibility for, the content, privacy policies, or practices of any third party websites. By using the Services, you expressly relieve us from any and all liability arising from your use of any third-party website.
THE SITE IS PROVIDED ON AN "AS IS" AND AN "AS AVAILABLE" BASIS. WE EXPRESSLY DISCLAIMS ALL WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT FOR THE USE OF THE SITE. NO ADVICE OR INFORMATION OBTAINED FROM US, OUR AGENTS, REPRESENTATIVES OR THROUGH THE SERVICES WILL CREATE ANY WARRANTY NOT EXPRESSLY STATED HEREIN. ANY LOST OR DAMAGED GOODS WILL BE REPLACED SUBJECT TO THE PROVISIONS OF THE TEXAS PAWNSHOP ACT.
8. LIMITATION OF LIABILITY AND INDEMNIFICATION
You agree to indemnify and hold us, our officers, agents, partners and employees, harmless from any loss, liability, claim, or demand, including reasonable attorney's fees, made by any third party due to or arising out of or relating to: (a) your use of the Site or the Services, or (b) arising from your breach of these Terms.
WE SHALL HAVE NO LIABILITY TOWARDS USERS WHO DO NOT USE THE SERVICES. OUR CUMULATIVE LIABILITY TOWARDS USERS OF THE SERVICES IS GOVERNED BY THE TEXAS PAWNSHOP ACT AND THE RULES OF THE OFFICE OF CONSUMER CREDIT COMMISSIONER.
(a) If you have not signed separate documentation as part of the Services, then these Terms constitute the entire agreement between the parties concerning the subject matter hereof, replacing any prior agreements. If there is any conflict between these Terms and specific documentation relating to an actual pawn or sale between us related to the Services, the specific documentation will prevail; (b) You affirm that you are 18 years of age or older, and are fully able and competent to enter into the terms, conditions, obligations, affirmations, representations, and warranties set forth in these Terms, and to abide by and comply with these Terms; (c) Failure to enforce any provision will not constitute a waiver of that provision. If any provision is found unenforceable, it and any related provisions will be interpreted to best accomplish the unenforceable provision’s essential purpose; (d) These Terms shall be governed by the laws of the State of Texas, without giving effect to any principles of conflicts of laws thereof. The eligible courts of Tyler, Texas, shall have exclusive jurisdiction over all disputes with pledgers or sellers that do not reside in Texas. For any legal action by a pledger or seller brought pursuant to Finance Code §371.167, venue shall be in the county of residence of the pledger if the pledger resides in Texas, otherwise, venue shall be in Tyler, Texas. Nothing in these Terms limits either party’s ability to seek equitable relief.
February 13, 2014