Just Value It’s Terms and Conditions
Just Value It Limited Terms and Conditions of Service – last updated April 2016.
By sending an item of property to Just Value It Limited, you agree to be bound by the following terms and conditions (“Terms”):
These Terms will apply to any contract or credit facility agreement between us for the provision of consumer credit to you via the credit agreement online at www.justvalueit.com or available from our trading address (“Contract”). Please read these Terms carefully and make sure that you understand them.
You should print a copy of these Terms or save them to your computer for future reference.
We amend these Terms from time to time as set out in condition 12 below. Every time you wish to enter into a Contract with us, please check these Terms to ensure you understand the terms which will apply at that time.
Information About Us
Just Value It Limited (“Just Value It Limited”, “we”, “us”, “our”) is one of the United Kingdom’s first Pawnbrokers to lend to people via the internet; We operate the website www.justvalueit.com. We are Just Value It Limited, a company registered in England and Wales under company number 08717647 and with our registered office at 6 Cumberland Gate, Cumberland Road, Portsmouth, Hampshire, PO5 1AG. Our main trading address is 17 Queensway, Bognor Regis, West Sussex, PO21 1QN (“Premises’).
Subject to the terms of the Contract, we will lend to you an agreed sum of money secured against an item of your property (“Your Asset”) to be approved by us. The Contract contains specific conditions of lending and in the event of any conflict between the Contract and the Terms, the Contract will prevail.
The following is a brief outline of the application process (“Process”). For further information, please visit our website at www.justvalueit.com.
- You complete an application form at www.justvalueit.com giving a description of Your Asset and your required consumer credit;
- You send your Asset to our Premises (or such other address as we may direct) for valuing (see Shipping Service at Condition 6 below);
- We value Your Asset in accordance with Condition 8 below;
- If we are satisfied with the authenticity and value of Your Asset (in accordance with Conditions 8 and 9 below), we may enter into a Contract with you.
We may refuse to enter into a Contract with you in accordance with Condition 11 below.
- Please note that we are committed to the concept of responsible lending. We promote making monthly interest payments on any loan in place of allowing interest to roll up for the duration of the loan by applying a discounted APR to that option. Each loan offered will always include two pre-contract quotations for both roll up of interest (“Standard Offer”) as well as the discounted APR version with the payment of interest being settled monthly by recurring bank transfer (“Monthly Offer”). We believe this gives you added flexibility and more control over your financial commitments.
- If your bank does not honour a recurring interest payment, we will contact you by telephone and / or e-mail to facilitate prompt collection. If this payment is not made within 7 working days after its contractual due date (“Default Date”) and the recurring interest payment is not back in operation your entitlement to continue on the Monthly Offer will cease and you will immediately revert to the Standard Offer. The difference between the rate payable under the Discount APR and the rate that would have been payable under the Standard APR for the entirety of the agreement to the Default Date will immediately become due to us and will be added to the Total Amount Payable. Monthly interest for the entirety of the term will be calculated at the rate defined in and payable in accordance with terms set out in the Standard Offer. Any monthly interest payments made under the Monthly Offer will be deducted from the Total Amount Payable.
By sending your Asset to us for valuing, you warrant and represent that you have good and marketable title to Your Asset, free of all encumbrances of any kind, and you are not under the age of 18 years.
We have a pre-paid shipping service (“Shipping Service”) available at your request. By choosing the Shipping Service, you authorise us to appoint a shipping agent on your behalf to ship Your Asset to and from our Premises for the purposes of appraisal by our valuers in accordance with these Terms. We may nominate such shipping agent as we may determine from time to time (“Shipping Agent”).
It is entirely your responsibility to ensure that your items are securely and appropriately packaged and Your Asset is sent entirely at your own risk. Just Value It Limited cannot be held responsible for damage to items in transit to and from our Premises or for non-delivery of Your Asset.
Insurance and Liability
Whereas the Shipping Agents may provide insurance cover for loss and damage to Your Asset in transit up to a market replacement value of £10,000 in conjunction with our insurers, if you consider the market replacement value of Your Asset is more than £10,000, it is your sole responsibility to take out your own insurance. If you choose to dispatch goods of a replacement value exceeding £10,000 via the Shipping Service without arranging any additional insurance cover, you agree that you are doing this at your own risk, and that you will have no claim against us and / or the Shipping Agent for any amount of the replacement value of any goods lost, damaged or devalued in any way in the course of the Shipping Service.
We cannot accept any liability whatsoever for Your Asset when in transit to and from our Premises, therefore you must ensure that you obtain all proof of shipping, such as a unique tracking code. You must ensure that you are in possession of all documentation in relation to Your Asset required in the event that an insurance claim is made. We have no responsibility whatsoever to assist in any insurance claim made by you. Please note you may be challenged to demonstrate the validity of your insurance claim by the Shipping Agent.
You agree that we are not liable in any way if the Shipping Agent or our insurers refuses any insurance claims in relation to Your Asset.
Inspecting and Valuing Your Asset
On receiving Your Asset from you, we record opening and inspecting the item(s), and compare Your Asset to the original description supplied by you, in order to confirm that they match. We value Your Asset in good faith, according to accepted industry standards and prevailing market rates, and on the assumption that the description provided by you is completely accurate. Should Your Asset vary from the original description in a manner which affects the valuation, we may, in our absolute discretion, decline to make an offer or make an offer to you that is higher or lower than the initial indication given to you for any reason, including but not limited to any difference in the actual quality of Your Asset compared with our understanding of your original description or changes in the market for such item(s). Any offer that we make to you is subject to us being able to formally identify you, and you signing a Contract.
Authenticity and Our Responsibilities Under Legislation
Under Copyright and Counterfeit Goods legislation, we are obliged to destroy any replica branded watches we receive. As such, we are unable to return any replica branded watches received.
Under UK Hallmarking legislation, we are obliged to destroy any items carrying fraudulent UK Hallmarks, or items carrying UK Hallmarks that make up a part of pieces that are intended to deceive.
To determine the purity (carat) of gold items, we will first look at any UK hallmarking on pieces. For non-UK hallmarked items, or if there is any question of the veracity of markings or hallmarking, we may have to test pieces using either acid or an electronic test. You accept that the process of appraisal of your items may result in tarnishing, staining and / or scratches.
You confirm that we can share information about Your Asset with third parties for the purpose of authentication and / or valuation. We will not share your personal information with any third parties for any other reason.
Refusal to Lend and Return of Goods
If we chose not to enter into a Contract with you or we are unable to loan against Your Asset(s), we will dispatch them back to you within 5 working days of receipt. You will receive email confirmation of dispatch, including your unique tracking code, on the day of dispatch.
Any shipment of a value beneath our minimum transaction value of £750.00 will be returned by the Shipping Agent, a signed for service. For this purpose, the value is as determined by Just Value It Limited’s valuers.
Should any insurance claim arise out of any loss or damage suffered in shipping Your Asset back to you, the replacement value(s) claimed will be according to our valuation of Your Asset as described in Condition 10, whether you accept any loan offer or not.
For the avoidance of doubt, Your Asset remains entirely at your risk during transit to and from our Premises.
Our right to vary these terms
We may revise these Terms from time to time in the following circumstances:
- changes in how we accept payment from you;
- changes in relevant laws and regulatory requirements; and
- any other reasonable circumstance.
Every time you enter into a Contract with us, the Terms in force at that time will apply to the Contract between you and us.
Whenever we revise these Terms in accordance with this condition we will keep you informed and give you notice of this by stating that these Terms have been amended and the relevant date at the top of this page.
Events Outside of Our Control
We will not be liable or responsible for any failure to perform, or delay in performance of, any of our obligations under a Contract that is caused by an Event Outside Our Control.
An “Event Outside Our Control” means any act or event beyond our reasonable control, including without limitation strikes, lock-outs or other industrial action by third parties, civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks or impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport.
If an Event Outside Our Control takes place that affects the performance of our obligations under these Terms and / or a Contract:
- we will contact you as soon as reasonably possible to notify you; and
- our obligations under these Terms and / or a Contract will be suspended and the time for performance of our obligations will be extended for the duration of the Event Outside Our Control.
This Agreement is governed by and is construed under English law. The Parties submit to the exclusive jurisdiction of the English courts for any matter or dispute arising out of these Terms or the Contract.
This document, the shipping terms and any Contracts are in the English language. We will communicate with you in English during the Process and throughout the term of any Contract.
If you want to make a complaint about the Process, Shipping Service or in connection with anything else you can email email@example.com, with brief details of your complaint [and your account number]. Our Complaints Team will investigate your complaint and send a response to you within 10 working days of receipt of your complaint. If you are not satisfied with the response from Our Complaints Team, you can email firstname.lastname@example.org, enclosing the responses already given to you. Your email will then be referred to Nick Brown, who will respond by email within five business days. Complaints about the lending process or the loan that we cannot settle within 8 weeks after the date of complaint may ultimately be referred to the Financial Ombudsman Service. We will give you the details of that service if and when you are entitled to any such referral or otherwise at your request.
While we will provide you with information that we have to help you in any dispute or claim that you may have with your shipping agent, we cannot be held liable for any failure in the agent’s performance of its obligations to you.
If any provision or part-provision under these Terms or a Contract is or becomes invalid, illegal or unenforceable, it shall be deemed modified to the minimum extent necessary to make it valid, legal and enforceable. If such modification is not possible, the relevant provision or part-provision shall be deemed deleted. Any modification to or deletion of a provision or part-provision under this condition shall not affect the validity and enforceability of the rest of these Terms or a Contract.
Max APR: 67.35%. Representative Loan Example: Loan amount: £100,000, Rate of Interest: 41.88% per annum (fixed), Rate of Interest: 3.49% per month (fixed) simple interest Administration fee: £3,000 (3%), Total amount of credit: £97,000, Representative APR: 55.8%. Duration of the agreement: 6 months Total amount payable: £120,940*. Repayment of credit: one repayment of £120,940 in month 6 or alternatively a lower APR is available if interest payments due are paid monthly and not rolled up until the end of the term of the loan. * Loans can be paid back at any time with no penalties applied. Loan Term: Typically 6 months but with options available to extend the term A Pawnbroking Loan is not a long term financial solution. In the event that you are unable to repay your loan to Just Value It Ltd, the asset(s) that you used to secure your loan may be sold, in order to recover the outstanding loan balance, according to the terms and conditions of your signed loan agreement.