Rules of procedure

CASHY Germany GmbH
(hereinafter referred to as "CASHY")
HRB 273792

Valid from: October 2022

1. scope of application - status

(1) These Terms and Conditions apply to all legal transactions that CASHY concludes as a contractual partner with its platform users (hereinafter referred to as "USER"), as well as to the use of the online platform (hereinafter also referred to as "PLATFORM").

(2) Deliveries, services and offers shall be made exclusively on the basis of these Terms and Conditions. Deviating agreements are not permitted. The application of any of USERN's own rules of procedure or own contractual content is excluded in any case.

(3) The valid rules of procedure are made available on the CASHY website for downloading and printing.

2. contractual partner / conclusion of contract

(1) The contractual partners are CASHY, based in Munich, Germany, and all USERS.

(2) The PLATFORM is aimed at customers (hereinafter collectively referred to as "USER"). The USER must disclose various personal data during processing. CASHY undertakes to use this data exclusively in accordance with the data protection information, which must be accepted separately by the USER.

(3) The presentation of the services on the PLATFORM, in any advertisements and other presentations of the services shall not constitute a binding offer to conclude a contract. This is a non-binding invitation and invitation to USERS to use CASHY's services within the framework of the PLATFORM.

(4) Children and adolescents, i.e. persons under the age of 18, are not authorized to register with CASHY and use the services. CASHY reserves the right to request proof of age. CASHY is entitled to demand this even after a registration has been completed. If no proof of age can be provided, CASHY is entitled to refuse any service, reverse transactions and delete USER profiles. Children and adolescents, i.e. persons under the age of 18, are also prohibited from serving as mere messengers when handing over the deposit items.

(5) Commercial operators are excluded from use if they are in direct or indirect competition and use the PLATFORM for non-private purposes (in particular to obtain information).

3. object of the pawning

(1) CASHY shall grant loans against the pawning of movable collateral of all kinds in accordance with the provisions of the German Commercial Code in the currently valid version.

4. service description

(1) CASHY offers a PLATFORM (websites, mobile apps, etc.) for all aspects of pawnbroking in accordance with the Pawnbroking Ordinance. USERS can take out pawn loans via CASHY and have the entire processing carried out via CASHY.

(2) Use of the PLATFORM is only available to registered USERS. The creation of a user profile or account is a prerequisite for using the main services.

(3) All interactions are processed via the PLATFORM. All notifications are sent via the PLATFORM (e.g. SMS, e-mails and direct messages).

5. processing (Journey)

(1) The procedure for the entire pledged loan transaction via PLATTFORM is as follows:

a) Using the PLATFORM, the USER can select his loan request (loan amount and term), describe the pledged items offered and upload photos.

b) If the pledged item is not in the proposal options (standard pledged items), the USER has the option of describing the pledged item offered by him separately and having it checked by CASHY. In any case, the items listed in 6.1. (3) are excluded.

c) On the basis of the USER input, CASHY calculates the amount of the potential loan including fees according to the fee schedule. The offer is subject to the condition precedent of the valuation by CASHY.

d) Upon confirmation, the USER accepts the conditional offer and must select the payment option (e.g. but not necessarily or exclusively cash, bank transfer or Paypal).

e) In the next step, the USER must hand over the pledged item at a CASHY branch or, at their own risk, send it in via a transport company.

f) Once the pledged item has been received by CASHY, a corresponding inspection and valuation shall be carried out by CASHY.

g) After verification and valuation, the USER will be sent a binding confirmation of the pledge loan agreement, an amended offer (depending on its nature, this may differ considerably from the potential loan amount originally stated) or (if the pledged object is unsuitable) a rejection.

h) The USER is free to accept or reject the new offer.

i) Upon successful completion, the loan amount will be disbursed according to the information provided by the USER.

j) If the loan agreement is not concluded, the item shall be returned to the USER (by agreement). There is no entitlement to return shipment by or at the expense of CASHY.

k) If the loan agreement is concluded, the pledged item(s) shall be handed over to CASHY or, if legally possible and with the express consent of CASHY, the pledged item may be handed over to the USER for temporary continued use. If the loan is paid in full and on time, the pledged item shall be handed over to the USER (by agreement). There is no entitlement to return shipment by or at the expense of CASHY

l) If no payment is made, the pledged item(s) will be disposed of in accordance with these rules of procedure.

6. user account

(1) USERS must register on the PLATTFORM and create their own profile in order to be able to take out pawn loans and use all the functions of the PLATTFORM.

(2) All USERS are obliged to treat each other with respect when interacting on the PLATFORM. Discriminatory, racist, inhuman, national socialist content that violates any law, in particular any criminal law, is expressly prohibited. CASHY is entitled to report such messages and associated profiles to the authorities without prior warning.

(3) USERS are obliged to register with CASHY using a clear name and correct data (corresponding to the registration form). If incorrect data is provided, CASHY shall be entitled to delete the account without prior warning and to block the persons behind it. CASHY shall not be liable for any damages incurred by the USER as a result.

(4) The USER is also obliged to keep his data up to date.

(5) Multiple registration for one person is strictly prohibited. In the event of multiple registrations, the most recent registration will be deleted by CASHY. In the event of recurrence, CASHY reserves the right to block persons from creating an account.

(6) When registering, the USER chooses a password. The USER is obliged to keep the password protected and secret. If the USER loses their password or access to their account (e.g. but not exclusively through "phishing"), the USER is obliged to report this to CASHY, as this may also mean a loss of the digital pledge.

(7) CASHY is generally entitled to delete accounts without prior notification and justification. Deletion shall not affect current pledge loan agreements. In this case, CASHY will contact the USER via other channels (post, telephone, e-mail, etc.).

(8) Every USER is entitled to request the deletion of their own account including stored data, provided this does not conflict with essential business interests. Current pledge loan agreements shall not be affected by a deletion. In this case, CASHY shall contact the USER via other channels (post, telephone, e-mail, etc.).

7. pawnbroking business

(1) USERS may take out a pledged loan in return for the transfer of a pledged item.

(2) CASHY is entitled to refuse any request to conclude a pledge loan without giving reasons.

7.1 Pledged property/pledged object

(3) CASHY reserves the right to refuse the offered pledge without giving reasons. In any case, the pawning of:

- Weapons of any kind;

- Dangerous objects, e.g. explosive, highly flammable, corrosive, hazardous to health, infectious, radioactive;

- Objects whose possession and trade are prohibited;

- Cross particles and relics, but not their containers;

- medals and other awards subject to restitution, unless proof of ownership is provided;

- all items that may only be traded by authorized traders under applicable law;

- Real estate and other immovable assets;

- Items that are not the sole property of the USER, i.e. items lost, forgotten, left behind or unlawfully seized by the owner, or that are intended to serve as pledged property without the owner's written authorization to dispose of them;

- Objects that give rise to suspicion of being connected with a criminal act (embezzlement, fraud, theft, robbery, etc.).

(4) If pledged items are pawned against the will and/or knowledge of the owner (e.g. reserved property), CASHY is only obliged to return the items to the actual owner to the extent required by the legal situation applicable at the time of transfer (bona fide creation of a lien).

(5) CASHY shall insure the pledged items in particular against fire, burglary and transport damage. Any insurance benefits shall be used to cover the USER's damages, irrespective of any actual liability for such damages.

(6) In order to ensure proper storage of the pledged items, they must not be heavily soiled. If the pledged item is soiled in such a way that it leads to an impairment of the pledged item or other items (e.g. in the case of damp soiling) or that the soiling is likely to lead to reduced sales proceeds in the event of a later sale, CASHY shall only accept it against payment of a cleaning fee in accordance with the fee schedule. The USER shall be informed of the fee by CASHY when accepting the pledged item, so that he can decide not to conclude the pledge transaction without incurring fees.

7.2 Prohibition of rehypothecation

(7) CASHY is prohibited from further pawning pledged items. However, transfers of liens within the meaning of (8) and (9) are permitted.

(8) In connection with the refinancing of pledged loans, such as the transfer or encumbrance of claims against USER from pledged loans, CASHY is entitled to transfer the lien on the respective pledged items together with the secured pledged loan. In this case, CASHY is obliged to retain the pledged items (in the case of divisible items, undivided) in its custody and to insure them in accordance with (26). CASHY is not permitted any legal type of physical transfer of the pledged items to the subsequent pledgee in the course of the transfer of the lien, in which the protection of the pledged item or corresponding insurance would not be guaranteed. CASHY must protect the interests of the USER. In particular, the rights and obligations of the USER vis-à-vis the refinancer must remain unchanged to the extent arising from the pledge loan agreement concluded between CASHY and the customer. The transfer or encumbrance of the loan claim and the lien must not result in any other or greater burdens for the USER with regard to the pledged object or with regard to his obligations to repay the loan including fees. For example, there must be no change to the fact that the forfeiture of the pledged object would in any case release him from his loan and fee debt in full, without prejudice to his rights under (49) to any surplus.

(9) CASHY, its universal successors and all future assignees and after-pledge creditors are obliged, in the event of any further transfer of claims and liens in connection with the Pledged Loan Transaction, to continue to impose all rights and obligations under (7), (8) and (9) (and all other related paragraphs) on their legal successors.

7.3 Pawn book

(10) CASHY keeps electronic pawn lending books in which each pawn lending transaction is entered with all data. The hardware and software used to maintain the computerized pawnbroking books shall ensure that printouts of the stored data can be made at any time. The hardware and software is protected against unauthorized access by third parties by means of security measures (firewall, protection programs, mechanical locking device). The pawn lending book is stored on external servers and backup copies are made daily on local data carriers.

(11) CASHY keeps a separate pawn book for each item group, in particular for precious stones, jewels, life insurance policies and gold and silver goods.

(12) Each business case is created in the pawnbroking book with the following information:

a) Name, date of birth and address of the pledgor

b) serial number of the deposit transaction,

c) Brief description of the pledge,

d) Loan amount,

e) Date of pawning,

f) Date of expiry of the pledge (term of the loan),

g) Insured value,

h) In the case of conversion, the previous pledge number,

i) Maturity date of the loan,

j) The amount of any overpayments or loan repayments,

k) For jewelry, the weight,

l) The date of release, transfer or delivery for recovery,

m) The assignment by the appraiser and/or the person of the pawnbroker entrusted with the acceptance of the pawn and the issuing of the pawn ticket.

(13) The pledge book is kept for a period of (at least) 7 years, calculated from the termination of the respective business case (termination is the redemption or realization of the respective pledged item).

(14) In the event of termination of the business license, the pawn lending books shall be delivered to the district administrative authority or, in the area of activity of a federal police authority, to this authority.

7.4 Pawn ticket

(15) CASHY shall issue and deliver a digital deposit receipt to the USER for each deposit transaction. The digital pawn ticket is stored digitally (electronically) on the USER profile and can only be accessed with the corresponding USER profile data.

(16) The pawn ticket shall contain the following information:

a) Designation as "pawn ticket",

b) Name, date of birth and address of the pledgor

c) CASHY's name and address,

d) serial number of the pledge transaction,

e) Brief description of the pledge (for jewelry also the weight),

f) Loan amount,

g) Date of pawning,

h) Date of expiry of the pledge,

i) Insured value,

j) Reference to the Rules of Procedure, in particular to the provisions concerning the sale of forfeited pledges and determination of the amount of the fee,

k) Reference to the prohibition of the commercial purchase and pawning of pawn tickets,

l) In the case of conversion, the preceding pledge number,

m) Maturity date of the loan,

n) The amount of any overpayments and loan repayments.

(17) The USER shall be issued with a new pawn ticket if a pawn loan is extended.

7.5 Loss of the pawn ticket

(18) If a pawn ticket is lost (e.g. due to the loss of all USER profile data), CASHY shall record the loss of the pawn ticket in the pawnbroker's books and issue a memorandum if the bearer of the loss proves that the loss has been reported in accordance with the provisions of the law on lost property and that his details regarding the time of transfer of the pawn as well as the term and amount of the loan received and the exact description of the pawn correspond with the deposited pawn and the data given on the pawn ticket correspond with the pawnbroker's books. The pledge can be converted on the basis of this bill.

(19) If the original pawn ticket does not appear within one year from the date of the notice of loss, the pawn may be handed over against restitution of the advance notice and repayment of the loan including fees according to the fee schedule, unless it has expired due to lack of realization and has been sold.

(20) If the pledge has already been forfeited and sold, only any surplus realized shall be handed over.

(21) After the expiry of 14 days from the expiry date, the holder of a certificate of pledge may redeem the pledge, provided it has not yet been sold, against return of the certificate of pledge, if he deposits the estimated amount of the pledge with CASHY as security for any claims of the holder of the certificate of pledge.

(22) This security, including the interest income, shall be returned if the original pledge bill has not appeared within one year of the date of issue of the endorsement.

(23) If the original certificate of pledge appears within one year of the date of issue of the endorsement, the pledge or any surplus realized from the proceeds of the pledge may only be handed over against simultaneous surrender of the original certificate of pledge and the endorsement.

7.6 Storage & insurance

(24) CASHY shall store pledged items properly and - as far as technically possible - protect them from external influences (such as moisture in particular).

(25) CASHY shall insure pledged items. The sum insured must be at least 200% of the loan of all pledged items taken into safekeeping. CASHY shall insure the pledged items in particular against fire, theft, burglary and transportation damage. Any insurance benefits shall be used to cover the USER's losses, irrespective of any actual liability for such losses

(26) CASHY accepts no liability for damage caused by natural events, force majeure or pests (e.g. martens), or for any reduction in value resulting from prolonged storage of the deposit.

7.7 Triggering

(27) A pledged item is released against payment of the loan and fees according to the fee schedule, whereby the USER must present the digital pawn ticket upon handover. After handover, the (digital) pawn ticket is collected by CASHY or the corresponding pawn ticket file is deleted.

(28) The interest and manipulation fees are to be paid retrospectively when the pledged items are redeemed, rolled over or sold. The calculation is based on half-months, whereby the entire fees for the whole month must be paid for pledged items that are released or converted before the end of the first month.

(29) If the USER or the person present when the pledged item is drawn cannot produce the pledge certificate, the pledged item will not be handed over to him.

(30) If the (digital) pawn ticket cannot be presented by the USER for technical reasons, the USER must provide this proof. The pledged item will then be handed over exclusively to the person deposited in the pledge book upon presentation of the deposited photo ID.

7.8 Extension/modification of pledged loans

(31) The user can apply to extend the pledge loan before it expires. It is at the discretion of CASHY whether this request is granted.

(32) The USER shall pay a fee for this (announced prior to renewal) in accordance with the fee schedule.

(33) Changes to the loan amount are permitted in the event of an extension. An increase is only permitted if the calculated value of the pledged item covers the amount of the increase. A reduction by partial payment is permissible, whereby pledged items are not exchanged or released prematurely.

(34) A new deposit receipt will be issued to the USER upon renewal.

(35) Partial payments by the USER are possible, but the pledged item shall not be deemed to have been released until the full debt has been paid.

7.9 Sale/recycling ofdeposit

(36) If the loan amount including ancillary costs is not paid in full by the expiry date, the pledged item shall be deemed forfeited and CASHY shall be entitled to satisfy its claims for repayment of the loan and for payment of interest, remuneration and costs only from the pledge.

(37) The USER authorizes CASHY to officially deregister the pledged item after expiry, if necessary.

(38) The USER shall be notified of the expiry, the outstanding amount and the imminent realization on the expiry date. The message shall provide the USER with options:

a) Extension of the pledge loan;

b) Payment of the outstanding amount;

c) Realization of the pledged property;

(39) If payment is made, the pledged item shall be handed over to the USER (by agreement). In principle, the USER has the option, but no right, to have the pledged item delivered by CASHY. Upon delivery by CASHY, the USER must present a photo ID to the supplier for identity verification, which can be photographed and saved by the supplier. This option is associated with additional costs for the USER in accordance with the tariff. CASHY uses suitable technical and organizational security measures to protect the stored personal data against manipulation, partial or complete loss and against unauthorized access by third parties. The data is stored on an external platform (Google Cloud Platform) which is compliant with the existing EU General Data Protection Regulation and must be confirmed by the USER. Payment must be made before the pledged item is handed over.

(40) If no payment or alternative selection option is made, the pledged item(s) shall be realized by CASHY after a waiting period of one month. The realization takes place by public auction or, if legally permissible, by private sale. The prerequisite for a sale by private treaty is that the expected cash value of the proceeds from the sale by private treaty is higher than that of a public auction. In particular, the interest and fee advantage of a faster private sale is taken into account. If a private sale remains unsuccessful within 2 months, CASHY shall hand over the pledged item to an authorized auctioneer for public auction. If the realization takes place by auction, the USER shall be informed of the place and time of the auction.

(41) The private sale is carried out either by direct offers to commercial enterprises that typically trade in goods corresponding to the pledged asset or to private individuals with the aim of achieving the highest possible sale proceeds in the interests of the USER. If a higher sale price can be achieved by selling to private individuals, a sale to private individuals is also possible in the interests of the USER. CASHY shall take appropriate account of the interests of the USER when selling the item. In the event of a private sale, CASHY shall be obliged to realize the pledged item at the best possible price in the interests of the USER, taking into account the circumstances.

(42) When the pledged property is sold in an attempt to generate the highest possible sales proceeds, the pledged debt, i.e. the obligation to repay the respective pledged loan including fees in accordance with the fee schedule for which the pledged property is liable, expires.

(43) After the sale of the pledge by private sale or auction, CASHY shall request the USER to disclose an account and immediately transfer any remaining surplus to the USER after deduction of the pledge debt including interest and all ancillary fees as well as the costs of the pledge sale. Surpluses which are not handed over to the USER within three years or which have not been collected shall be transferred to the competent authority or used to satisfy debts from other pawn loans of the USER in accordance with § 11 para. 2 of the Pawnbroker Ordinance.

(44) CASHY is not liable for damages resulting from password phishing.

8. duty to provide information

(1) The USER has a right to information as well as a right to correction, blocking and deletion of his stored data.

(2) CASHY is obliged to,

a) to allow the security authorities to inspect the business premises/digital books upon request, to present evidence, to grant access to the pawnbroking books and to provide the information necessary for the inspection,

b) to keep the notifications received by the USER regarding lost, forgotten, abandoned or unlawfully seized items in an orderly manner and ready for inspection,

c) to maintain confidentiality vis-à-vis private individuals about the persons with whom pledge transactions have been concluded.

9. cessation or suspension of the exercise of the trade

(1) CASHY shall notify the authority eight weeks in advance in the event of the cessation of the exercise of the trade or its suspension for more than two months, publish this on its website and in an announcement in suitable media. Furthermore, CASHY shall ensure that the pawned items can be properly handed over after the corresponding payments have been made, up to three months after the cessation or suspension of the trade.

(2) No loans shall be granted or pledges accepted from the time of the announcement of the suspension or discontinuation.

10. final provisions

(1) German law shall apply to the exclusion of the UN Convention on Contracts for the International Sale of Goods. The mandatory consumer protection regulations of the respective country in which the USER has his habitual residence are excluded from this choice of law.

(2) The exclusive place of jurisdiction for legal action by CASHY against the USER is the court with subject-matter and local jurisdiction at the place of residence.

(3) The contract language is generally German; in the event of simultaneous German and other language information from CASHY, the German version shall take precedence.