uborro
Terms & Conditions of Business - Prior to Confirming a Loan Agreement
1. uborro’s provisional offer is based on the original pledge description received from the customer. uborro values the pledge in good faith, according to accepted industry standards and prevailing market rates, and on the assumption that the description provided by the customer is completely accurate.
2. On receiving the pledge from the customer, uborro inspects the pledge, and compares the actual pledge to the original description supplied by the customer, in order to confirm that they match.
3. Should a pledge prove to vary from the original description in a manner which affects the valuation, uborro reserves the right to adjust the loan offer either upwards (in the case of higher actual quality compared with original description) or downwards (in the case of lower actual quality compared with original description).
4. Confirmed offers are contracted between the customer and Sutton’s & Robertson’s. uborro is acting as the on-line agent of Sutton’s & Robertson’s.
5. In order to set up the loan, uborro requires proof of the customer’s identity, which must be a copy of photo ID (e.g. passport, national identity card or driving licence), and documentation verifying the customer’s current mailing address (e.g. a utility bill, council tax bill or bank statement less than three months old).
6. Loan contracts which uborro arranges between Sutton’s & Robertson’s and the customer are not legally binding until after the uborro inspects the pledge, makes a revised, and, if necessary adjusted offer, and the customer confirms via e-mail that they have read, understood and agreed the contract on offer.
7. All loans will run for 6 months, with interest charged monthly.
8. A redemption fee to cover postage will be charged at the end of the contract in addition to the loan value and any interest accrued. The redemption fee will be clearly stated in the loan balance. The redemption fee is a one-off charge, is not part of the loan and will not accrue interest.
9. To redeem a pledge, the customer pays off all outstanding charges – the redemption fee, the loan value plus all interest charges – at the end of the 6 months.
10. The customer can redeem their pledge before the end of the contract by paying off the redemption fee, the loan value and any interest accrued to the date of redemption. Interest owed is calculated on a monthly basis; part months are charged as full months. No other charges will be due.
11. Should a loan not be extended or paid off with interest within the 6 month loan period, the customer will be informed in writing of the intention to sell. On selling the goods, the outstanding loan, interest and auction costs are retained by Sutton’s & Robertson’s. Any surplus is returned to the owner.
12. All loan costs are accompanied by an APR quote.
13. Should the customer decline the confirmed offer, uborro reserves the right to request the customer to settle any shipping costs incurred by uborro in shipping the pledge from and back to the customer.
