Pawnbroking industry: extension of the pledge realisation period
Service description
In the pawnbroking industry, pawnbrokers must realise the pawn no later than 6 months after the authorisation to realise it has been granted.
Upon application by the pawnbroker to the competent authority, the deadline may be extended if there is good cause.
The deadline shall be extended for as long as the important reason is likely to exist. If prevented by a judicial or official measure, the period shall be extended until the realisation of other pledges following the cancellation of the measure.
Prerequisites
An important reason exists if:
- there is a conflict between the pawnbroker's obligations under the Pawnbroker Ordinance and other legal provisions,
- it is in the pledgor's interest to postpone realisation, e.g. if, for seasonal reasons, a more favourable result can be achieved for the pledgor in the event of later realisation despite the interest and costs that continue to accrue,
- if a legal dispute is pending regarding the ownership of the pledge or the creation of the lien.
Which documents are required?
- Identity card or passport, if applicable
- Pawnbroking licence, if applicable
- Documents documenting the important reason
What fees are incurred?
A fee of 30.50 euros will be charged
What deadlines do I have to observe?
The application should be submitted as soon as the good cause exists.
Legal basis
Typing
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